Several attempts to resolve its dual share structure, and subsequently failing to comply with the JSE listings requirements pertaining to real estate investment trusts 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...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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Dual capital structure remains a Fortress poserFormer Reit is committed to finding a solution that serves stakeholders and the company, says CEO Steven Brown
Source: BDliveSA - 🏆 12. / 63 Read more »