Back to the drawing board at Fortress after latest share scheme rejected
With resolutions not met at the AGM, it remains to be seen what Fortress’s next move will be in resolving its dual share structure
17 August 2022 - 21:42
The majority of Fortress Reit A and B shareholders at an AGM on Wednesday voted against a proposed share scheme in which the company sought to exchange each A-ordinary share for 3.01 B shares.
In June, Fortress said that if shareholders favoured the proposal, Fortress A shareholders will receive 80% of Fortress’s distributions, with the remaining 20% going to Fortress B shareholders...
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