Sharenet Sites 
Sharenet Sites
Renewal of Cautionary Announcement - Annual Results and Put Option Update
TEXTON PROPERTY FUND LIMITED
Granted REIT status by the JSE
Incorporated in the Republic of South Africa
(Registration number 2005/019302/06)
Share code: TEX ISIN: ZAE000190542
(“Texton” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT - ANNUAL RESULTS AND PUT OPTION UPDATE
Further to the cautionary announcement dated 23 August 2018, wherein Texton Shareholders were advised
that the Company has received communication from the Public Investment Corporation SOC Limited ("PIC")
(as representative of the Government Employees Pension Fund ("GEPF")) relating to the funding granted by
GEPF to Texton Broad-Based Empowerment (RF) Proprietary Limited ("BEE SPV") and the Put Option which
was granted by Texton to GEPF as security for the obligations of BEE SPV under the loan agreement
between GEPF and BEE SPV.
BEE SPV has provided communication to the PIC that it is unable to remedy the default as at the prescribed
date being, 12 September 2018. The Put Option Agreement contemplates that the PIC has the right to
procure the sale of the Option Shares to restore any covenant or remedy any breach. Given the current share
price and the illiquid volume of the Texton share the sale will not restore or remedy any covenant breach and
therefore the PIC has notified Texton that they are exercising the Put Option.
As per the previous cautionary announcement, this matter is subject to shareholder approval via special
resolution and further communication will follow in this regard. Per the Put Option Agreement the settlement
is due within 90 days of receipt of the exercise notice, subject to compliance with the Companies Act and the
JSE Listings Requirements and any other regulatory approvals required.
Pursuant to the announcement dated 30 August 2018 regarding the postponement of the Company’s results,
the Board wishes to advise shareholders that the Company’s results for the year ended 30 June 2018 will be
released on 28 September 2018. The Company’s results presentations will be held on 1 and 2 October 2018
in Johannesburg and Cape Town respectively.
The Put Option matter continues to be a priority for Texton’s Board of Directors and its advisors, and all
processes will be followed in the responsible management of shareholder interests. Essential to this is the
commitment to transparent and open communication with shareholders and all stakeholders, therefore the
Company will provide further announcements as soon as it is in the position to do so.
This matter may have a material effect on the price of the Company’s securities. Accordingly, shareholders
are advised to exercise caution when dealing in the Company’s securities.
Johannesburg
13 September 2018
Sponsor
Merchantec Capital
Date: 13/09/2018 02:05:00 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.
