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INVESTEC PROPERTY FUND LIMITED - Results of General Meeting of Shareholders

Release Date: 21/01/2015 15:15
Code(s): IPF     PDF:  
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Results of General Meeting of Shareholders

INVESTEC PROPERTY FUND LIMITED
Approved as a REIT by the JSE
(Incorporated in the Republic of South Africa)
(Registration Number 2008/011366/06)
Share code: IPF
ISIN: ZAE000155099
(“Investec Property Fund” or “the Fund”)


RESULTS OF GENERAL MEETING OF SHAREHOLDERS


1.    INTRODUCTION

      Investec Property Fund shareholders (“IPF Shareholders”) are referred to the announcement
      released by Investec Property Fund on SENS on Monday 15 December 2014, as well as to the
      circular issued to IPF Shareholders on Monday, 15 December 2014 (“Circular”), regarding the
      acquisition by Investec Property Fund of a portfolio of properties from Investec Property Proprietary
      Limited (“Investec Property”), the management company of the Fund and an indirectly wholly-
      owned subsidiary of Investec Limited (“Proposed Transaction”).

2.    RESULTS OF THE GENERAL MEETING

      IPF Shareholders are advised that at the general meeting of IPF Shareholders held on
      Wednesday, 21 January 2015 at 10h00 (“General Meeting”), all of the resolutions set out in the
      notice convening the General Meeting incorporated in the Circular were passed, without
      modification, by the requisite majority of votes.

      The resolutions required to give effect to the Proposed Transaction were voted on as follows:

                                                           % of issued       % of shares
                                                                                                Number of
                                                                 share        that could           shares
                                                               capital          be voted
       Total number of shares that could be voted at
       meeting                                                   67%                100%      268 960 723

       Total number of shares present/represented
       including proxies at meeting (including shares            50%                 75%      200 479 428
       abstained from voting)

       Total number of shares present/represented
       including proxies at meeting (excluding shares
       abstained from voting)                                    50%                 75%      200 442 794


       Total number of members present                                                               8


                                                                     Votes in                Votes
                                                                                     %                  %       Abstentions              %
                                                                       favour               against
       Ordinary Resolution Number 1–
       Approval of related party transaction                      200 442 794      100%          0      0            36 634        0.01362%


       Ordinary Resolution Number 2 –
       Directors’ authority to sign necessary                      200 478 928     100%          0      0               500        0.00019%
       documentation

       Ordinary Resolution Number 3 –
       Director’s authority to issue shares
       specifically in relation to a dividend                      200 442 794     100%          0       0           36 634        0.01362%
       reinvestment plan


3.    CONDITIONS PRECEDENT

      IPF Shareholders are advised that certain conditions precedent to the Proposed Transaction
      remain outstanding including the unconditional approval by the competition authorities in terms of
      the Companies Act 89 of 1998.

      Accordingly, Investec Property and Investec Property Fund have agreed to extend the date for the
      fulfilment of the conditions precedent to 28 February 2015, although the Effective Date of the
      Proposed Transaction will remain 1 February 2015.

      IPF Shareholders will be advised when the remaining conditions precedent are fulfilled.



Johannesburg
21 January 2015

Sponsor: Investec Bank Limited

Date: 21/01/2015 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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