The Oasis Crescent Property Fund (OCPF) has emerged victorious from its Annual General Meeting (AGM) held earlier today via electronic communication. All resolutions proposed at the AGM received overwhelming support from the Fund’s unitholders, reflecting their unwavering confidence in the strategic direction and management of OCPF.
The OCPF is a property fund registered under the Oasis Crescent Property Trust Scheme and holds REIT status with the JSE. It offers investors the opportunity to participate in a diversified portfolio of real estate assets while seeking sustainable and competitive returns.
Resolutions and Unanimous Support
During the AGM, OCPF presented several critical resolutions to its unitholders. The results of the voting indicated a complete consensus among the investors in favor of the proposed resolutions, emphasizing their belief in the Fund’s growth strategies and financial decisions.
The table below illustrates the details of the resolutions and the corresponding voting outcomes:
| Resolutions | Votes for resolution (%) | Votes against resolution (%) | Units voted at AGM | Units voted at AGM as a percentage of units in issue* | Units abstained as a percentage of units in issue* |
|---|---|---|---|---|---|
| Ordinary resolution number 1: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| General authority to issue units for cash | |||||
|---|---|---|---|---|---|
| Special resolution number 1: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| General authority to repurchase units | |||||
|---|---|---|---|---|---|
| Ordinary resolution number 2: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| Non-binding advisory vote on OCPFโs remuneration policy | |||||
|---|---|---|---|---|---|
| Ordinary resolution number 3: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| Non-binding advisory vote on OCPFโs implementation report on the remuneration policy | |||||
|---|---|---|---|---|---|
| Ordinary resolution number 4: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| To re-appoint Nexia SAB&T as auditor | |||||
|---|---|---|---|---|---|
| Ordinary resolution number 5: | 100% | 0% | 61,533,897 | 92.36% | 1.78% |
| General authority to the Directors of the Manager |
*Total number of units in issue as at the date of the AGM was 66,627,017.
Unitholders’ Confidence in OCPF’s Strategy
The AGM’s unanimous support for all the resolutions demonstrates the strong alignment between OCPF’s management and its investors regarding the Fund’s direction and future prospects. The authority granted to OCPF to issue units for cash and repurchase units provides the Fund with the flexibility to capitalize on potential investment opportunities and enhance its capital management strategies.
Moreover, the unitholders’ endorsement of OCPF’s remuneration policy and its implementation report reaffirms the Fund’s commitment to transparency and accountability in its executive compensation practices. This vote of confidence reflects the investors’ belief that the management is diligently working to align executive rewards with the Fund’s long-term success and financial well-being.
Nexia SAB&T Re-appointed as Auditor
In a significant development, the unitholders voted in favor of re-appointing Nexia SAB&T as the auditor for OCPF. The decision highlights the unitholders’ trust in Nexia SAB&T’s auditing expertise and their dedication to maintaining robust financial oversight within the Fund. This re-appointment underscores OCPF’s commitment to upholding the highest standards of financial reporting and governance.
Outlook and Future Prospects
With the successful conclusion of the AGM and the unitholders’ unwavering support, OCPF is well-positioned to execute its growth strategies and explore potential investment opportunities in the dynamic real estate market. As a property fund with REIT status, OCPF is dedicated to delivering sustainable value to its unitholders while prudently managing risks.
As the property market evolves, OCPF remains committed to leveraging its expertise and industry knowledge to identify and capitalize on favorable investment prospects. With a strong track record and a clear mandate, OCPF is poised to navigate the ever-changing real estate landscape and deliver attractive returns to its loyal unitholders.
Conclusion
The resounding support from OCPF unitholders at the AGM reinforces the Fund’s position as a leading player in the real estate investment landscape. With a strategic vision, prudent financial management, and unwavering investor confidence, OCPF continues to chart a course towards a prosperous and sustainable future.
