Investec Property Fund Rebrands: Welcome to Burstone Group

  • Investec Property Fund becomes Burstone Group Limited, reflecting growth strategy and stability in a shareholder-backed decision.
  • Shareholders overwhelmingly vote in favor of the change, with 99.9% support for the new name and memorandum amendments.
  • Transition timeline set, trading under "Burstone" begins on September 20, emphasizing continued commitment to excellence and growth.

In a significant development, Investec Property Fund Limited, a prominent player in the South African real estate market, has announced its change of name to Burstone Group Limited. This transformative decision was the outcome of a General Meeting held on 31 August 2023, wherein shareholders voted on crucial resolutions that will reshape the identity of the company.

The change of name comes after a comprehensive process of evaluation and strategic planning, aiming to align the company’s brand identity with its evolving business trajectory. The new name, Burstone Group Limited, reflects the company’s commitment to solid foundations and growth. The name “Burstone” captures the essence of stability and strength, signaling a new era for the company.

The meeting, attended by a substantial number of shareholders, saw unanimous support for the resolutions presented. Shareholders representing a significant portion of the total issued share capital were present, demonstrating their active engagement in the decision-making process.

Resolution NumberDescriptionVotes in FavorVotes AgainstAbstentions
1Change of Name618,961,40635,834572,576
2Amendment of Memorandum of Incorporation618,960,35625,834583,626

The approval of the change of name was met with enthusiasm, with an overwhelming 99.9018% of votes in favor, while only 0.0057% were against the change. The amendment of the Memorandum of Incorporation also received strong support, with 99.9016% of votes in favor.

To facilitate a smooth transition, the company has outlined a series of salient dates:

  • 1 September 2023: The Change of Name special resolution will be lodged with the Companies and Intellectual Property Commission (CIPC) for registration.
  • 12 September 2023: A formal announcement finalizing the change of name will be made by 11:00 am.
  • 19 September 2023: Last day for trading under the old name.
  • 20 September 2023: Trading under the new name “Burstone Group Limited” with the share code “BTN” commences.
  • 22 September 2023: Record date for the Change of Name.
  • 26 September 2023: Dematerialized shareholder accounts will be updated with the new name, and certificated shareholders’ entitlements will be credited to their Computershare Nominees (Pty) Ltd account.

Related

Rateweb

South Africa’s primary source of financial tools and information

Contact Us

admin@rateweb.co.za

Disclaimer

Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.