Texton Property Fund Limited
Incorporated in the Republic of South Africa
Registration number 2005/019302/06
A REIT, listed on the JSE Limited
JSE share code : TEX
ISIN : ZAE000190542
(“Texton” or “the Company”)


Condensed Consolidated Unaudited Interim Results for the Six Months Ended 31 December 2023
Highlights
    •   An amount of R30,4 million was allocated towards property investments in South Africa
    •   We expanded our Small and Medium Sized Enterprises (“SME”) strategy by introducing a
        storage offering at two office parks, 30 Wellington Road and 151 Katherine Street
    •   Vacancies within the core portfolio has decreased from 17,7% to 15,7%
    •   Twenty-one new leases were completed in the current year with a combined gross lettable
        are of 4 339m²
    •   R3,4 million was deployed to our indirect international property investments
    •   Balance sheet remains strong with a low loan-to value and significant cash on hand
Key Financial Results

                        31 December 2023       31 December 2022               Change %
 Property Revenue
 (R'000)                           136 429               163 791                 (16,71)
 Distributable
 earnings (R'000)                   36 870                 44 466                (17,08)
 Headline earnings
 per share (cents)                   (9,49)                 11,05                (185,9)
 Earnings per share
 (cents)                            (10,31)                  6,69                (254,1)
 Net asset value per
 share (cents)                      711,99                 609,51                 16,81


Dividend
The Board of directors of Texton has elected not to pay an interim dividend for the six months ended
31 December 2023.
Short-form statement
This short form announcement is the responsibility of the Board and does not include full or complete
details. Any investment decision should be based as a whole on the condensed consolidated
unaudited interim results (“full announcement”), which can be found on the Company’s website,
https://www.texton.co.za/reportsandpublications, and can also be viewed on the JSE link,
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/TEX/Interims24.pdf.

The full announcement is also available for inspection at the Company’s registered office or its
sponsor, at no charge, during office hours for a period of 30 calendar days following the date of this
announcement.
This short-form announcement has not been audited or reviewed by the Company’s external auditor.

Sandton
28 February 2024


Important Information
Executive director:
HSP Welleman (Chief Executive officer)
Non-Executive Directors:
MA Golding (Non-executive chairman), JR Macey (Lead independent non-executive), RA Franco
(Non- executive)
Independent non-executive
AJ Hannington, S Thomas, W van der vent


Registered Office: Block D, Vunani Office Park, 151 Katherine, Sandton 2031
Postal address: PO Box 653129, Benmore 2010
Auditors: BDO South Africa Inc
Company secretary: Corpstat Governance Services Proprietary Limited
JSE Equity Sponsor: Investec Bank Limited
Transfer secretaries: Computershare Investor Services Proprietary Limited