Redefine mulls distribution options as it faces additional R420m tax cost
Landlord defers decision on payout until February and may offer shareholders more shares
01 December 2020 - 08:23
Diversified landlord Redefine Properties says it is considering distribution options that will preserve cash and its status as a real estate investment trust (Reit), warning of continuing uncertainty from the Covid-19 pandemic that may require further concessions to tenants.
Redefine swung into a loss exceeding its R13.7bn market capitalisation in its year to end-August, hinting on Tuesday that it may offer its shareholders additional shares instead of a distribution, with an option of cash, as it seeks to retain its Reit status...
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