TEXTON PROPERTY FUND LIMITED - Fulfilment of outstanding conditions precedent regarding the joint acquisition by Texton of Broad Street Mall

Fulfilment of outstanding conditions precedent regarding the joint acquisition by Texton of Broad Street Mall

TEXTON PROPERTY FUND LIMITED
(formerly 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: TEX
ISIN: ZAE000190542
(formerly ISIN: ZAE000185872)
(“Texton” or “the Company”)


FULFILMENT OF OUTSTANDING CONDITIONS PRECEDENT REGARDING THE JOINT ACQUISITION BY TEXTON
OF BROAD STREET MALL SHOPPING CENTRE


1. INTRODUCTION

    Texton shareholders (“Shareholders”) are referred to the SENS announcement dated 19 May 2015,
    wherein Shareholders were advised that Texton had entered into agreements to acquire 50% of a
    special purpose vehicle, Inception (Reading) S.à.r.l (“Inception”) which will then be used as the vehicle
    to acquire a well-located retail shopping centre (“Broad Street Mall”) in Reading, England (the
    “Acquisition”).

    The Acquisition was subject to the fulfilment of the following conditions precedent:

    -   The funders approval of Texton’s acquisition of the shares in Inception;

    -   Exchange control approval by the South African Reserve Bank;

    -   Transfer of registered title; and

    -   Completion of the Acquisition in terms of the sale and purchase agreement which includes the
        registration of mortgages or charges registered against the titles, approval of all authorities,
        reliance letters, elections, construction documents and assignment of intellectual property rights
        and commercial agreements.

2. FULFILMENT OF CONDITIONS PRECEDENT

   Texton is pleased to announce that the outstanding conditions precedent to the Acquisition, were
   fulfilled yesterday, 1 July 2015, and accordingly the Acquisition is now unconditional.



   Dunkeld West
   2 July 2015

   Sponsor
   Investec Bank Limited

Date: 02/07/2015 03:23:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.