Dual capital structure remains a Fortress poser
Former Reit is committed to finding a solution that serves stakeholders and the company, says CEO Steven Brown
05 March 2023 - 16:05
Several attempts to resolve its dual share structure, and subsequently failing to comply with the JSE listings requirements pertaining to real estate investment trusts (Reits) resulted in Fortress losing its Reit status.
To maintain a Reit status, SA listed property companies are required to pay a minimum of 75% of their taxable earnings available for distribution as a dividend annually within four months after its year-end...
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