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 Number | Description | Votes in Favor | Votes Against | Abstentions |
|---|---|---|---|---|
| 1 | Change of Name | 618,961,406 | 35,834 | 572,576 |
| 2 | Amendment of Memorandum of Incorporation | 618,960,356 | 25,834 | 583,626 |
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:
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