Texton postpones results due to Public Investment Corporation (PIC) communication relating to the funding granted by GEPF to BEE SPV and the Put Option

Texton postpones results due to Public Investment Corporation (PIC) communication relating to the funding granted by GEPF to BEE SPV and the Put Option

The Texton Board today received communication from the Public Investment Corporation (PIC) relating to the funding granted by GEPF to BEE SPV and the Put Option which was granted to GEPF by Texton.

“As we assess the implications of this development on the business we’ve decided to postpone the Company’s results for the year ended 30 June 2018, which were due to be released on SENS on 3 September 2018. Our results presentations, which were due to be held on 3 and 4 September 2018 in Johannesburg and Cape Town respectively, are consequently also cancelled until further notice,” says Nosiphiwo Balfour, Texton CEO.

Balfour also said that the Texton Board of Directors sees this matter as an absolute priority will along with its advisors, follow all processes in the responsible management of shareholder interest. “We want to confirm our commitment to transparent and open communication with all shareholders and stakeholders. We will make further announcements as more information becomes available,” she concludes.

Texton Property Fund is a JSE listed property investment fund formed to invest directly in income producing properties that offer potential for capital appreciation. The funded was formed in 2006 and listed on the JSE in 2011.