Wrap Text
Publication of shareholder circular and notice of general meeting
VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
ISIN: ZAE000180865
Bond company code: VKEI
(Granted REIT status with the JSE)
("Vukile" or "the Company")
PUBLICATION OF SHAREHOLDER CIRCULAR AND NOTICE OF GENERAL MEETING
Introduction and purpose of the circular
In October 2025, Vukile successfully completed an oversubscribed equity raise of c.R2.65 billion ("equity raise"),
issuing the full ten percent (10%) of its share capital under the general authority approved by shareholders at the
Annual General Meeting ("AGM") held on 1 September 2025.
The proceeds from the equity raise, as well as proceeds of the recently announced sale of the retail park portfolio in
Spain have already been allocated to our existing transaction pipeline, including the acquisition 50% of Chatsworth
Centre in KwaZulu-Natal and Berceo Shopping Centre in Spain. Vukile continues to identify attractive acquisition
opportunities within its core markets of Spain, Portugal and Soth Africa.
Management expects yield compression in Iberia and across Europe towards the latter part of 2026, underlining the
importance of securing high-quality assets at current pricing levels. In the highly competitive European transaction
environment, the ability to execute with funding certainty is a key differentiator. Maintaining equity issuance flexibility
by having a general issue of shares for cash authority in place, provides Vukile with a strategic advantage, enabling the
ability to act decisively, negotiate from a position of strength, and secure assets at favourable pricing without undue
execution risk.
Accordingly, the board of directors is requesting shareholders to approve a further general authority to issue up to
nine percent (9%) of the Company's shares in issue until the next AGM to be held on 2 September 2026. This authority
will provide Vukile with the optionality and financial flexibility required to evaluate compelling value-enhancing
opportunities as and when they arise, while remaining committed to disciplined capital allocation and long-term
shareholder value creation.
Posting of general meeting circular
The Company is pleased to advise that the general meeting circular has been posted to shareholders today and is
available on the Company's website, https://www.vukile.co.za/wp-content/uploads/2026/02/Vukile-Circular-Feb-
2026-Equity-raise-authorities-including-Notice-of-General-Meeting.pdf
The purpose of the general meeting circular is to provide shareholders with all relevant information in respect of the
granting of the authorities:
• to place nine percent (9%) of the authorised but unissued ordinary shares under the control of the directors;
and
• a nine percent (9%) general authority to issue ordinary shares for cash;
so as to enable shareholders to make an informed decision as to whether or not they should vote in favour of the
resolutions set forth in the notice of general meeting; and to convene the general meeting in order for shareholders
to and, if deemed fit, pass, with or without modification, the ordinary resolutions set forth in the notice of general
meeting.
Notice of general meeting
Notice is hereby given of the general meeting, which will be held in the main boardroom, 4th Floor, 11 9th Street,
Houghton Estate, 2198 at 10:00 on Friday, 20 March 2026 in order for shareholders to consider and, if deemed fit,
pass, with or without modification, the resolutions set forth in the notice of general meeting (which forms part of, the
circular posted today).
Important dates and times
The salient dates and times are set out below:
Event Date
Record date to determine which shareholders are Friday, 13 February 2026
entitled to receive the circular
Circular distributed to shareholders and announcement Thursday, 19 February 2026
released on SENS
Last day to trade in order to be eligible to participate in Tuesday, 10 March 2026
and vote at the general meeting
Record date to participate in and vote at the general Friday, 13 March 2026
meeting (voting record date)
Form of proxy (yellow) to be lodged with the transfer Wednesday, 18 March 2026
secretaries, for administrative purposes, by
General meeting held at 10:00 on Friday, 20 March 2026
Results of general meeting released on SENS on Friday, 20 March 2026
1. All of the above dates and times are subject to change. Any changes made will be notified to shareholders by release on SENS.
2. All times given are local times in South Africa.
Houghton Estate
19 February 2026
Financial advisor and transaction sponsor NSX sponsor
Investec Bank Limited IJG Securities (Pty) Ltd
JSE & Debt sponsor
Java Capital
Date: 19-02-2026 04:47:00
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