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FORTRESS REIT LIMITED - Dealings in securities by an associate of a director of the company

Release Date: 13/05/2019 16:32
Code(s): FFB FFA FIFB15 FIFB08 FIFB10 FIFB09 FIFB12 FIFB11 FIFB14     PDF:  
Wrap Text
Dealings in securities by an associate of a director of the company

FORTRESS REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share codes:        FFA       ISIN: ZAE000248498
                        FFB       ISIN: ZAE000248506
Bond company code: FORI
(Approved as a REIT by the JSE)
("Fortress" or "the Company")


DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF THE COMPANY


Shareholders are referred to the announcement released on SENS on 8 May 2018 wherein shareholders were advised
that Dusty Gold Investments 4 Proprietary Limited ("Dusty Gold"), an associate of Mark Stevens, a director of
Fortress, (who is a trustee and beneficiary of the MWS Investment Trust, which owns 100% of Dusty Gold), had re-
structured over-the-counter collars in respect of Resilient REIT Limited ("Resilient") shares to over-the-counter
collars on a basket of Resilient shares and Fortress B ordinary shares (a "basket") post the unbundling of Fortress B
ordinary shares by Resilient, as follows:

-   80 744 Resilient shares and 32 297 Fortress B ordinary shares with a combined put strike price of R106.70 and a
    combined call strike price of R137.52 per basket, with an expiry date of 13 May 2019; and
-   200 000 Resilient shares and 80 000 Fortress B ordinary shares with a combined put strike price of R106.70 and a
    combined call strike price of R137.52 per basket, with an expiry date of 14 May 2019,
    (collectively "the collars").

On 10 May 2019, an early unwind of the collars was effected by the return of 112 297 Fortress B ordinary shares by
the counterparty, which held them pursuant to a pledge and cession loan arrangement and payment to the counterparty
of an aggregate amount of R1 154 846.15.

The transaction was conducted off-market and as there was no change in beneficial ownership, the director's interest
remains an indirect beneficial interest of 112 297 Fortress B ordinary shares in Dusty Gold.

13 May 2019


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

Date: 13/05/2019 04:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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