FORTRESS REIT LIMITED - Market value of Resilient REIT Limited shares for the purposes of the in specie distribution

Market value of Resilient REIT Limited shares for the purposes of the in specie distribution

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”)


MARKET VALUE OF RESILIENT REIT LIMITED SHARES FOR THE PURPOSES OF THE IN SPECIE DISTRIBUTION


Shareholders are referred to the announcements published on SENS on 5 March 2020, 17 March 2020 and
26 March 2020 in respect of the in specie distribution of Resilient REIT Limited (“Resilient”).

Fortress shareholders are advised that the value of a Resilient share forming the subject matter of the in
specie distribution is R33.50, based on the ruling price of the Resilient shares at the close of business on the
record date, Friday 27 March 2020. Accordingly, for income tax purposes, the value of a shareholder’s
dividend is the number of Resilient shares received multiplied by R33.50 plus the cash fractional
entitlement. Similarly, for capital gains tax purposes, the base cost of the Resilient share will be R33.50.

The information provided above does not constitute tax advice and shareholders are advised to obtain
appropriate advice from their professional advisers in this regard.

30 March 2020


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

Date: 30-03-2020 11:56:00
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