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FORTRESS REIT LIMITED - Dealings in securities by directors and company secretary of Fortress relating to vesting of shares under the LTIP

Release Date: 01/11/2019 12:15
 
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Dealings in securities by directors and company secretary of Fortress relating to vesting of shares under the LTIP

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 DIRECTORS AND BY THE COMPANY SECRETARY OF FORTRESS RELATING TO VESTING OF SHARES UNDER THE 
LONG TERM INCENTIVE PLAN


Shareholders are referred to the announcement released on SENS on 31 October 2018 relating to the acceptance of
Award shares awarded in terms of the rules of the Fortress REIT Limited Long Term Incentive Plan (“the Plan”) and
are advised of the following information relating to the vesting of the first tranche, being 20%, of the Award shares. The
price per security, for purposes of determining the market value, is the closing price per Fortress A share and Fortress
B share on 30 October 2019, being R21.58 and R9.00 respectively.

Name of director:                                        Steven Brown
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    35 840
Total value:                                             R773 427.20
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Steven Brown
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    35 840
Total value:                                             R322 560.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Vuso Majija
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    29 860
Total value:                                             R644 378.80
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Vuso Majija
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    29 860
Total value:                                             R268 740.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Donnovan Pydigadu
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    28 660
Total value:                                             R618 482.80
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Donnovan Pydigadu
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    28 660
Total value:                                             R257 940.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Ian Vorster
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    10 580
Total value:                                             R228 316.40
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Ian Vorster
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    10 580
Total value:                                             R95 220.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of company secretary:                               Tamlyn Stevens
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    21 500
Total value:                                             R463 970.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of company secretary’s interest:       Direct beneficial
Clearance to deal received:                              Yes

Name of company secretary:                               Tamlyn Stevens
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    21 500
Total value:                                             R193 500.00
Nature of transaction:                                   Off-market vesting of Award shares in terms of the Plan
Nature and extent of company secretary’s interest:       Direct beneficial
Clearance to deal received:                              Yes

Shareholders are referred to the announcement released on SENS on 31 October 2018 relating to the acceptance of
Purchase shares awarded in terms of the rules of the Plan and are advised of the following information relating to the
vesting of the first tranche, being 20%, of the Purchase shares, on which debt owed to Fortress remains outstanding. The
price per security, for purposes of determining the market value, is the closing price per Fortress A share and Fortress
B share on 30 October 2019, being R21.58 and R9.00 respectively.

Name of director:                                        Steven Brown
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    107 500
Total value:                                             R2 319 850.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Steven Brown
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    107 500
Total value:                                             R967 500.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Vuso Majija
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    29 860
Total value:                                             R644 378.80
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Vuso Majija
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    29 860
Total value:                                             R268 740.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Ian Vorster
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    10 580
Total value:                                             R228 316.40
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of director:                                        Ian Vorster
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    10 580
Total value:                                             R95 220.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of director’s interest:                Direct beneficial
Clearance to deal received:                              Yes

Name of company secretary:                               Tamlyn Stevens
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress A ordinary shares
Number of securities:                                    21 500
Total value:                                             R463 970.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of company secretary’s interest:       Direct beneficial
Clearance to deal received:                              Yes

Name of company secretary:                               Tamlyn Stevens
Transaction date:                                        30 October 2019
Class of securities:                                     Fortress B ordinary shares
Number of securities:                                    21 500
Total value:                                             R193 500.00
Nature of transaction:                                   Off-market vesting of Purchase shares in terms of the Plan
Nature and extent of company secretary’s interest:       Direct beneficial
Clearance to deal received:                              Yes

1 November 2019


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

Date: 01/11/2019 12:15:00
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