TOWER PROPERTY FUND LIMITED - Results of annual general meeting

Results of annual general meeting

TOWER PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2012/066457/06)
JSE share code: TWR ISIN: ZAE000179040
(Approved as a REIT by the JSE)
("Tower" or "the company")


RESULTS OF ANNUAL GENERAL MEETING


Shareholders are advised that at the annual general meeting of shareholders held on Tuesday, 20 October 2020 (in terms
of the notice dispatched on 18 September 2020) all the resolutions tabled thereat were passed by the requisite majority
of shareholders.

Details of the results of voting at the annual general meeting are as follows:

-   total number of Tower shares in issue as at the date of the annual general meeting: 339 549 647
-   total number of Tower shares that were present/represented at the annual general meeting: 267 934 005 being
    78.91% of the total number of Tower shares that could have been voted at the annual general meeting.

Ordinary resolution 1: Adoption of the annual financial statements

Shares voted*                   For                            Against                    Abstentions^
267 671 278, being 78.83%       267 671 278, being 100%        -      262 727, being 0.08%

Ordinary resolution 2: Re-appointment of auditors

Shares voted*                   For                            Against                    Abstentions^
267 671 278, being 78.83%       267 671 278, being 100%        -                          262 727, being 0.08%

Ordinary resolution 3: Re-election of Mr J Bester

Shares voted*                   For        Against                    Abstentions^
256 786 734, being 75.63%       249 249 820, being 97.06%      7 536 914, being 2.94%     11 147 271, being 3.28%

Ordinary resolution 4: Re-election of Mr R Naidoo

Shares voted*                   For                            Against                    Abstentions^
256 786 734, being 75.63%       256 783 734, being 100%        3 000, being 0.00%       11 147 271, being 3.28%

Ordinary resolution 5.1: Re-election of Mr J Bester as chairman and member of the audit and risk committee

Shares voted*                   For                            Against                    Abstentions^
267 671 278, being 78.83%       260 134 364, being 97.18%      7 536 914, being 2.82%     262 727, being 0.08%

Ordinary resolution 5.2: Re-election of Ms N Milne as member of the audit and risk committee

Shares voted*                   For                            Against                    Abstentions^
267 671 278, being 78.83%       267 671 278, being 100%        -                          262 727, being 0.08%

Ordinary resolution 5.3: Re-election of Mr R Naidoo as member of the audit and risk committee

Shares voted*                   For                      Against                    Abstentions^
267 671 278, being 78.83%       267 018 748, being 99.76%      652 530, being 0.24%       262 727, being 0.08%

Ordinary resolution 6: Control over unissued shares

Shares voted*                   For                            Against                    Abstentions^
267 664 550, being 78.83%       259 475 106, being 96.94%      8 189 444, being 3.06%     269 455, being 0.08%

Ordinary resolution 7: General authority to issue ordinary shares for cash

Shares voted*                   For                            Against                    Abstentions^
267 219 946, being 78.70%       259 021 382, being 96.93%      8 198 564, being 3.07%     714 059, being 0.21%

Ordinary resolution 8: Specific authority to issue shares pursuant to a re-investment option

Shares voted*                   For                            Against                    Abstentions^
267 219 946, being 78.70%       259 677 640, being 97.18%      7 542 306, being 2.82%     714 059, being 0.21%

Ordinary resolution 9: Control over unissued ordinary shares in respect of the Tower Property Fund Incentive
Scheme

Shares voted*                   For                      Against                    Abstentions^
267 219 946, being 78.70%       259 674 640, being 97.18%      7 545 306, being 2.82%     714 059, being 0.21%

Ordinary resolution 10: Implementation of resolutions

Shares voted*                   For                            Against                    Abstentions^
267 671 278, being 78.83%       267 671 278, being 100%        -                      262 727, being 0.08%

Special resolution 1: Approval of non-executive directors' remuneration

Shares voted*                   For                            Against                    Abstentions^
267 611 278, being 78.81%       257 043 178, being 96.05%      10 568 100, being 3.95%    322 727, being 0.10%

Special resolution 2: General authority to repurchase shares

Shares voted*                   For                            Against                    Abstentions^
267 676 670, being 78.83%       260 134 364, being 97.18%      7 542 306, being 2.82%     257 335, being 0.08%

Special resolution 3: Financial assistance for the subscription of securities

Shares voted*                   For                            Against                    Abstentions^
267 668 278, being 78.83%       260 131 364, being 97.18%      7 536 914, being 2.82%     265 727, being 0.08%

Special resolution 4: Financial assistance to related and inter-related parties

Shares voted*                   For                            Against                    Abstentions^
267 673 670, being 78.83%       267 668 278, being 100%        5 392, being 0.00%         260 335, being 0.08%
  
Non-binding resolution 1: Non-binding advisory vote in respect of the Tower's remuneration policy

Shares voted*                   For                            Against                    Abstentions^
267 214 554, being 78.70%       259 025 110, being 96.94%      8 189 444, being 3.06%     719 451, being 0.21%

Non-binding resolution 2: Non-binding advisory vote in respect of the Tower's remuneration implementation report

Shares voted*                   For                            Against                    Abstentions^
267 214 554, being 78.70%       259 025 110, being 96.94%      8 189 444, being 3.06%     719 451, being 0.21%

* shares voted in relation to total shares in issue (excluding abstentions)
^ shares voted in relation to total shares is issue (excluding treasury shares)

20 October 2020


Sponsor
Java Capital

Date: 20-10-2020 02:45:00
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