PROP INDEX TRACKER COL INV SCHEME - Sale of the Manager by Resilient Property Income Fund to GFS Holdings and changes to the board of directors

Sale of the Manager by Resilient Property Income Fund to GFS Holdings and changes  to the board of directors

PROPTRAX SAPY
Share code: PTXSPY ISIN: ZAE 000101911
(“PropTrax SAPY”)

PROPTRAX TEN
Share code: PTXTEN ISIN: ZAE000155362
(“PropTrax TEN”)

A portfolio in the Property Index Tracker Collective Investment Scheme registered as such in terms of the
Collective Investment Schemes Control Act, 45 of 2002, managed by Property Index Tracker Managers
Proprietary Limited (“the Manager”)


SALE OF THE MANAGER BY RESILIENT PROPERTY INCOME FUND LIMITED TO GFS HOLDINGS (PTY) LTD, CHANGES TO THE BOARD OF DIRECTORS 
OF THE MANAGER AND RELATED MATTERS


SALE OF THE MANAGER

Investors are advised that all conditions have now been met to give effect to the sale of the entire issued shares of the
Manager by Resilient Property Income Fund Limited to GFS Holdings (Pty) Ltd, a subsidiary of Grindrod Limited
and an associated company of Grindrod Bank Limited, effective 26 August 2013 (“the transaction”).

CHANGES TO THE BOARD OF DIRECTORS

As a result of the transaction, investors are advised that subject to FSB approval, the following directors will resign
from the board of directors of the Manager:

    - Herman Zolty as a non-executive director and the interim managing director of the Manager;
    - Jeffrey Zidel as a non-executive director; and
    - Djurk Venter as an independent non-executive director.


Investors are further advised that, subject to the receipt of FSB approval, the following directors will be appointed to
the board of directors of the Manager:


    - Ian Michael Groves has been appointed as an independent non-executive director; and
    - David Andrew Polkinghorne has been appointed as a non-executive director.


Ian Michael Groves (CA)(SA) is n non-executive director of Grindrod Limited, Grindrod Bank Limited and Value
Group Limited. He served as managing director of the Grindrod Group from 1986 to 1999 and has many years’
experience in the shipping industry and in the role as a non-executive director of listed companies. Mike is also the
lead independent director of Grindrod Limited.

David Andrew Polkinghorne (BCom; MA (Oxon) is the managing director of Grindrod Bank since 1999 and has
extensive investment and corporate banking experience having worked in corporate finance with Standard Merchant
Bank where he managed Standard Corporate and Merchant Bank’s private equity division and subsequently was the
regional director for the Western Cape. David was appointed to the Grindrod Limited Executive Committee and Board
in 2005.
                                                                                                                
Craig Hallowes will remain on the board of directors as an independent non-executive director where his years of
experience with the company and in the industry will add value.

As previously announced on SENS on 27 June 2013 and subject to the receipt of FSB approval Gareth Stobie has been
appointed as managing director of the Manager.

OTHER RELATED MATTERS

Investors are further advised that pursuant to the shared services agreement entered into between the Manager and
Grindrod Bank Limited, Grindrod Bank Limited will undertake responsibility for the day-to-day management of the
Manager’s affairs with effect 26 August 2013.

Leonie Gindan has resigned as company secretary of the Manager with the Grindrod Group secretarial division,
Grindrod Management Services Proprietary Limited assuming this role with effect from 26 August 2013.

Java Capital have resigned as sponsor to PropTrax SAPY and PropTrax TEN and Grindrod Bank Limited has been
appointed as sponsor with effect from 2 September 2013.

29 August 2013

Sponsor
Java Capital

Date: 29/08/2013 10:47:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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