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FORTRESS REIT LIMITED - Dealings in securities by directors and by the company secretary of Fortress

Release Date: 12/12/2019 16:40
 
Wrap Text
Dealings in securities by directors and by the company secretary of Fortress

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


Shareholders are advised of the following information relating to dealings in securities by a director of
Fortress:

Name of director:                           Steven Brown
Transaction date:                           11 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       35 000
Highest traded price per security on the    R19.98
market on the day
Weighted average price per security:        R19.66571
Lowest traded price per security on the     R19.61
market on the day
Total value:                                R688 300.00
Nature of transaction:                      On-market sale
Nature and extent of director’s interest:   Direct beneficial
Clearance to deal received:                 Yes

Name of director:                           Steven Brown
Transaction date:                           10 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       35 000
Price per security:                         R7.17
Total value:                                R250 950.00
Nature of transaction:                      On-market purchase
Nature and extent of director’s interest:   Direct beneficial
Clearance to deal received:                 Yes

Name of director:                           Steven Brown
Transaction date:                           11 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       50 000
Price per security:                         R7.50
Total value:                                R375 000.00
Nature of transaction:                      On-market purchase
Nature and extent of director’s interest:   Direct beneficial
Clearance to deal received:                 Yes

Shareholders are further advised of the following information relating to the acceptance of award shares,
awarded in terms of the rules of the Fortress REIT Limited Long Term Incentive Plan (“the Plan”), which
will vest in equal tranches over a 4-year period with a final vesting date of 30 October 2023, subject to the
vesting conditions contained in the rules of the Plan.

Name of director:                           Steven Brown
Transaction date:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       72 000
Price per security:                         RNil
Total deemed value:                         R1 479 600.00 (at a deemed price per security of R20.55)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       72 000
Price per security:                         RNil
Total deemed value:                         R620 640.00 (at a deemed price per security of R8.62)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R1 198 065.00 (at a deemed price per security of R20.55)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R502 546.00 (at a deemed price per security of R8.62)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R1 198 065.00 (at a deemed price per security of R20.55)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R502 546.00 (at a deemed price per security of R8.62)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R1 198 065.00 (at a deemed price per security of R20.55)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       58 300
Price per security:                         RNil
Total deemed value:                         R502 546.00 (at a deemed price per security of R8.62)
Nature of transaction:                      Off-market acceptance 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       34 300
Price per security:                         RNil
Total deemed value:                         R704 865.00 (at a deemed price per security of R20.55)
Nature of transaction:                      Off-market acceptance of award shares in terms of the Plan
Nature and extent of company secretary’s    Direct beneficial
interest:
Clearance to deal received:                 Yes

Name of company secretary:                  Tamlyn Stevens
Transaction date:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       34 300
Price per security:                         RNil
Total deemed value:                         R295 666.00 (at a deemed price per security of R8.62)
Nature of transaction:                      Off-market acceptance of award shares in terms of the Plan
Nature and extent of company secretary’s    Direct beneficial
interest:
Clearance to deal received:                 Yes

Shareholders are further advised of the following information relating to the acceptance of shares under a
purchase offer and concomitant debt in terms of the rules of the Plan, which will vest in equal tranches over a
4-year period with a final vesting date of 30 October 2023, subject to the vesting conditions contained in the
rules of the Plan:

Name of director:                           Steven Brown
Transaction date:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       72 000
Price per security:                         R20.55
Total deemed value:                         R1 479 600.00
Nature of transaction:                      Off-market acceptance of 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       72 000
Price per security:                         R8.62
Total deemed value:                         R620 640.00
Nature of transaction:                      Off-market acceptance of 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       58 300
Price per security:                         R20.55
Total deemed value:                         R1 198 065.00
Nature of transaction:                      Off-market acceptance of 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:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       58 300
Price per security:                         R8.62
Total deemed value:                         R502 546.00
Nature of transaction:                      Off-market acceptance of 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:                           12 December 2019
Class of securities:                        Fortress A ordinary shares
Number of securities:                       34 300
Price per security:                         R20.55
Total deemed value:                         R704 865.00
Nature of transaction:                      Off-market acceptance of shares in terms of the Plan
Nature and extent of company secretary’s    Direct beneficial
interest:
Clearance to deal received:                 Yes

Name of company secretary:                  Tamlyn Stevens
Transaction date:                           12 December 2019
Class of securities:                        Fortress B ordinary shares
Number of securities:                       34 300
Price per security:                         R8.62
Total deemed value:                         R295 666.00
Nature of transaction:                      Off-market acceptance of shares in terms of the Plan
Nature and extent of company secretary’s    Direct beneficial
interest:
Clearance to deal received:                 Yes

12 December 2019


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

Date: 12-12-2019 04:40:00
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