VUNANI PROPERTY INVESTMENT FUND LTD - Results of general meeting and change in the share capital

Results of general meeting and change in the share capital

VUNANI PROPERTY INVESTMENT FUND LIMITED
Granted REIT status by the JSE
(Incorporated in the Republic of South Africa)
(Registration number 2005/019302/06)
JSE code: VPF
ISIN: ZAE000157459
(“VPIF” or “the company”)


RESULTS OF GENERAL MEETING AND CHANGE IN THE SHARE CAPITAL


Results of general meeting - approval of resolutions:
The directors advise as follows regarding the special and general resolutions tabled at the
general meeting of unitholders held today:


Special resolutions relating to:
•    the delinking of the linked units, the relevant amendment to the Debenture Trust
     Deed, the subsequent termination of the Debenture Trust Deed, the termination of
     the debentures and the capitalisation of the value of the debentures in the books of
     account of VPIF to form part of VPIF’s stated capital – approved by the requisite
     majority;
•    the conversion of the company’s ordinary par value shares into ordinary shares with
     no par value – approved by the requisite majority;
•    the substitution of the current Memorandum of Incorporation (“MOI”) and the
     adoption of a new MOI – approved by the requisite majority subject to the following
     modification to clause 28.16:


     “With effect from the annual general meeting of the Company and subject to the
     provisions relating to the disqualification of Directors, at least one third of the
     directors, or if their number is not 3 (three) or a multiple of 3 (three), the number
     nearest to one third, but not less than one third then holding that position, shall
     retire from office.”


The ordinary resolutions relating to the cession and assignment of the Asset Management
Agreement entered into between the company and Vunani Property Asset Management
Proprietary Limited to Texton Property Investments Proprietary Limited and the
directors’ authority to give effect to the special and ordinary resolutions were approved
by the requisite majority.


Change in the share capital:
The special resolutions as detailed above will be filed with the CIPC for acceptance and a
further announcement will be made in due course relating to the dates applicable to the
change in the share capital.


Sandton
16 January 2014


Corporate Adviser
Vunani Corporate Finance


Sponsor
Grindrod Bank Limited

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