Fortress proposes share exchange plan to retain Reit status
The company's share exchange proposal will result in R1.7bn in distributable earnings if approved
21 June 2022 - 12:41
In a bid to retain its real estate investment trust (Reit) status, Fortress has proposed a share exchange that will result in Fortress A shareholders receiving 80% of Fortress’s distributions going forward with the remaining 20% going to Fortress B shareholders.
Through the scheme, Fortress will exchange each A-ordinary share for 3.01 B-shares...
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