TEXTON PROPERTY FUND LIMITED - Changes to the Board - Resignation of Chief Executive Officer

Changes to the Board - Resignation of Chief Executive Officer

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”)

CHANGES TO THE BOARD – RESIGNATION OF CHIEF EXECUTIVE OFFICER


In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the Board of Directors of
Texton (“the Board”) hereby notifies its shareholders that with effect from 30 June 2020, Mr Marius Muller will
resign as Chief Executive Officer (“CEO”). Mr Muller will resume the role of non-executive director and member
of the Capital and Investment Committee from 1 July 2020.

Texton is in the process of appointing a new CEO and shareholders will be advised once such an appointment
has been made. Marius has agreed to continue serving as CEO until 30 June 2020 to ensure a smooth
handover to the newly appointed CEO.

Texton Chairman, Marcel Golding says: “Marius stepped in to lead the business at an extremely challenging
time for the Company. Texton has been meaningfully repositioned, and its strength as a sustainable long-term
business is significantly improved. It has clear strategic direction and a strengthened foundation from which to
move forward. We thank Marius for his ongoing leadership and commitment and look forward to his continued
contribution on the Board. The Board has full confidence that this transition represents a seamless handover
and strong continuity”.


Johannesburg
20 March 2020

Sponsor
Merchantec Capital

Date: 20-03-2020 10:07:00
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