Enhanced Investments - Financial Portal

Trading Statement

Published: 2022-03-16 14:30:00 ET

Texton Property Fund Limited (JSE:TEX) News - Trading Statement

TEXTON PROPERTY FUND LIMITED
Granted REIT status by the JSE
Incorporated in the Republic of South Africa
(Registration number 2005/019302/06)
Share code: TEX ISIN: ZAE000190542
(“Texton” or “the Company”)



TRADING STATEMENT


In terms of paragraph 3.4(b)(vii) of the JSE Listings Requirements, Texton has adopted distribution per
share as their financial results measurement for trading statement purposes. Texton is required to
publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that
the financial results to be reported upon next will differ by at least 15% from the financial results of the
previous corresponding reporting period.

Texton anticipates that its distributable income for the six months ending 31 December 2021 is expected
to decrease from R98.063 million to between R40.0 million and R45.0 million.

Texton’s board will apply a pay-out ratio of between 75% and 85% to this distributable income to
determine the dividend for its shareholders. As such the dividend payable to shareholder is expected
to be between R30.0 million (8.80 cents per share) and R36.0 million (10.55 cents per share) depending
on the final pay-out ratio adopted and total distributable income. Texton did not declare a dividend for
the interim period ending 31 December 2020.

Texton expects to publish its results for the six months period ending 31 December 2021 on or about
18 March 2022.


16 March 2022

Sponsor
Investec Bank Limited

Date: 16-03-2022 04:30:00
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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.