The Texton Property Fund board received communication from the Public Investment Corporation relating to the funding granted by GEPF and BEE SP 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.