VUNANI PROPERTY INVESTMENT FUND LTD - Cession and assignment of the asset management agreement and changes to the board

Cession and assignment of the asset management agreement and changes to the board

VUNANI PROPERTY INVESTMENT FUND LIMITED
Granted REIT status by the JSE
(Incorporated in the Republic of South Africa)
(Registration number 2005/019302/06)
JSE code: VPF
ISIN: ZAE000185872


CESSION AND ASSIGNMENT OF THE ASSET MANAGEMENT AGREEMENT AND CHANGES TO THE
BOARD


CESSION AND ASSIGNMENT OF THE ASSET MANAGEMENT AGREEMENT
Further to the announcement dated 16 January 2014, shareholders are advised that all the
suspensive conditions relating to the cession and assignment of the Asset Management Agreement
to Texton Property Investments Proprietary Limited have now been fulfilled and the effective date
of the transaction is 28 February 2014.


CHANGES TO THE BOARD
Shareholders are advised of the following changes to the Board, effective 1 March 2014.


New appointments – non executive directors:


•       Angelique de Rauville
        Angelique’s career in property commenced in 1998 and includes fund management and
        specialist property investments, both locally and overseas. She is very well-known in the
        property arena and has received a number of awards. She founded and is currently the
        Managing Director of Handful of Keys Property Limited and also consults to the Investec
        Group.


•       John (Chick) Legh
        Chick has been operating in the South African property market since 1981, primarily as an
        owner/developer of commercial, industrial and retail properties.     He is currently the
        Chairman of Kuper Legh Property Group.


•       Mathys (Thys) van Heerden
        Thys has been involved in the South African property industry for over 24 years serving in
        different capacities and has been involved with major acquisitions and transactions where
        his vast experience in property management, sales, valuations, large investments, etc, is
        invaluable.
Resignations:
•       CE Chimbombe-Munyoro (non-executive)
•       EG Dube (non-executive)
•       PW Mackenzie (executive)
•       RR Emslie (non-executive)


The Board welcomes the incoming directors and extends its appreciation to the outgoing directors,
who have guided the fund in its first two years as a listed company.


Sandton
3 March 2014


Sponsor
Grindrod Bank Limited

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