TEXTON PROPERTY FUND LIMITED - Results of the General Meeting

Results of the General Meeting

TEXTON PROPERTY FUND LIMITED
Granted REIT status by the JSE
(Incorporated in the Republic of South Africa)
Registration number: 2005/019302/06
JSE code: TEX
ISIN: ZAE000190542
(“Texton” or the “Company”)




RESULTS OF THE GENERAL MEETING



1. Introduction

    Texton shareholders (“Shareholders”) are referred to the announcement released on SENS on
    Friday, 21 July 2017 and a further announcement on Friday, 18 August 2017, advising Shareholders
    that:
    - Texton had agreed terms with the shareholders of Texton Property Investments Proprietary
         Limited (“Texton Property Investments”), to cancel the asset management agreement
         between Texton and Texton Property Investments, cede the rights and delegate the obligations
         of Texton Property Investments under certain contracts to Texton, and to sell certain assets to
         Texton which, if implemented, would have the economic effect of internalising the management
         of Texton (“Manco Internalisation”); and
    - The circular regarding the Manco Internalisation, incorporating a notice of general meeting
         (“Notice of General Meeting”), was provided to Shareholders on Friday, 18 August 2017.

2. Results of the General Meeting

    The general meeting of Shareholders was held at 10:00 on Friday, 15 September 2017 at the
    Company’s offices, Block C, Investment Place, 10th Road, Hyde Park, Johannesburg, 2196
    (“General Meeting”), to consider and, if deemed fit, pass, with or without modification, the
    resolutions contained in the Notice of General Meeting.

    Shareholders are advised that all resolutions proposed at the General Meeting were successfully
    passed by the requisite majority of Shareholders. Details of the results of voting at the General
    Meeting are as follows:

    Total number of Texton shares eligible to be exercised at the General
                                                                                          343 409 710
    Meeting
    Total number of eligible Texton shares that were present/represented at the
                                                                                          257 824 841
    General Meeting
    Percentage of the total number of Texton shares eligible to vote at the
                                                                                               75.08%
    General Meeting
    Resolution proposed                                          For         Against       Abstain

     Ordinary resolution number 1:
     Approval of the Manco Internalisation as a transaction   247 455 514   9 913 973        455 354
     with a related party                                     (96.15%)1      (3.85%)1       (0.13%)2
     
     Ordinary resolution number 2:
      Directors’ authority to take all such actions necessary 247 455 514    9 913 973        455 354
      to implement the Manco Internalisation                   (96.15%)1      (3.85%)1       (0.13%)2
                                                             
     
   1 Expressed as a percentage of the total number of Texton shares that were voted at the General
     Meeting
         
  2 Expressed as a percentage of the total number Texton shares that could be exercised at the General
    Meeting
   

Hyde Park
15 September 2017

Sponsor
Investec Bank Limited

Legal advisor and competition law advisor
Norton Rose Fulbright South Africa Inc

Independent expert
Questco Proprietary Limited

Independent reporting accountants
KPMG Inc

Date: 15/09/2017 01:16:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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