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...
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Commenting is subject to our house rules.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now