TEXTON PROPERTY FUND LIMITED - Outcome of court application by Texton
TEX 201702240082A
Outcome of court application by Texton
TEXTON PROPERTY 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
(“Texton” or “the Company”)
OUTCOME OF COURT APPLICATION BY TEXTON
Shareholders are referred to the announcements released on SENS on 3 February 2017 and 6
February 2017 relating to a court application submitted by Texton which sought to set aside certain
transactions entered into during 2015 relating to the internal rest ructuring of Texton (the “Restructure”).
On 24 January 2017, the judge granted an order for interested persons to show cause on or before 24
February 2017 why the identified transactions should not be set aside as being void ab initio. At the
court hearing held on 24 February 2017, no objections were received and the judge judicially endors ed
the nullity. The registrars of deeds have been instructed to give effect to the court order.
The effect of the order is that transfers of the properties from the Subsidiaries to Texton were in effect
void ab initio and thus the properties will remain in the Subsidiaries.
Hyde Park
24 February 2017
Sponsor
Investec Bank Limited
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