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Dealings in securities by directors and associates of Fortress and directors and associates of a major subsidiary
FORTRESS INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share codes: FFA ISIN: ZAE000192787
FFB ISIN: ZAE000192795
(Approved as a REIT by the JSE)
(“Fortress”)
DEALINGS IN SECURITIES BY DIRECTORS AND BY ASSOCIATES OF DIRECTORS OF FORTRESS AND BY DIRECTORS AND BY ASSOCIATES OF DIRECTORS
OF A MAJOR SUBSIDIARY OF FORTRESS
Fortress shareholders are advised of the following information relating to the dealings in securities by directors and by
associates of directors of Fortress and by directors and associates of directors of Capital Property Fund Limited (“Capital”),
a major subsidiary of Fortress, pursuant to the scheme of arrangement entered into between Capital and Capital shareholders
in terms of which Fortress has acquired all of the Capital shares that Fortress does not already own in exchange for 0.35
Fortress A ordinary shares and 0.35 Fortress B ordinary shares (the “Fortress scheme”).
The following information is applicable to the dealings in securities set out below:
Transaction date: 30 November 2015
Price per security: R17.61 per Fortress A ordinary share (being the closing price of Fortress A
ordinary shares on the last day to trade in Capital shares in order to
participate in the Fortress scheme).
R42.99 per Fortress B ordinary share (being the closing price of Fortress B
ordinary shares on the last day to trade in Capital shares in order to
participate in the Fortress scheme).
Nature of transaction: Off-market acquisition of shares under the Fortress scheme.
Clearance to deal received: The Fortress A ordinary shares and Fortress B ordinary shares were
acquired in terms of the Fortress scheme and accordingly no clearance to
deal was sought or received.
Name of director: Jeff Zidel
Class of securities: Fortress A ordinary shares
Number of securities: 246 575
Total value: R4 342 185.75
Nature and extent of director’s interest: Direct beneficial
Name of director: Jeff Zidel
Class of securities: Fortress B ordinary shares
Number of securities: 246 575
Total value: R10 600 259.25
Nature and extent of director’s interest: Direct beneficial
Name of associate: Zicor Property Projects (Pty) Ltd
Name of director and relationship to director: Jeff Zidel who owns 100% of Zicor Property Projects (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 73 500
Total value: R1 294 335.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Zicor Property Projects (Pty) Ltd
Name of director and relationship to director: Jeff Zidel who owns 100% of Zicor Property Projects (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 73 500
Total value: R3 159 765.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: MWS Investment Trust
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust
Class of securities: Fortress A ordinary shares
Number of securities: 120 373
Total value: R2 119 768.53
Nature and extent of director’s interest: Indirect beneficial
Name of associate: MWS Investment Trust
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust
Class of securities: Fortress B ordinary shares
Number of securities: 120 373
Total value: R5 174 835.27
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investment Holdings (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 482 507
Total value: R8 496 948.27
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investment Holdings (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 482 507
Total value: R20 742 975.93
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Tambura Investments (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 33.3% of Tambura Investments (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 76 813
Total value: R1 352 676.93
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Tambura Investments (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 33.3% of Tambura Investments (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 76 813
Total value: R3 302 190.87
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Dusty Gold Investments 4 (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 100% of Dusty Gold Investments 4 (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 1 084 075
Total value: R19 090 560.75
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Dusty Gold Investments 4 (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 100% of Dusty Gold Investments 4 (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 1 084 075
Total value: R46 604 384.25
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Morulat Property Investments 1 (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd,
which owns 100% of Morulat Property Investments 1 (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 8 750
Total value: R154 087.50
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Morulat Property Investments 1 (Pty) Ltd
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd,
which owns 100% of Morulat Property Investments 1 (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 8 750
Total value: R376 162.50
Nature and extent of director’s interest: Indirect beneficial
Name of director: Craig Hallowes
Class of securities: Fortress A ordinary shares
Number of securities: 350 277
Total value: R6 168 377.97
Nature and extent of director’s interest: Direct beneficial
Name of director: Craig Hallowes
Class of securities: Fortress B ordinary shares
Number of securities: 350 277
Total value: R15 058 408.23
Nature and extent of director’s interest: Direct beneficial
Name of associate: Antediluvian Investments (Pty) Ltd
Name of director and relationship to director: Craig Hallowes who is a trustee and beneficiary of The Brabazon Trust,
which owns 100% of Antediluvian Investments (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 1 094 485
Total value: R19 273 880.85
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Antediluvian Investments (Pty) Ltd
Name of director and relationship to director: Craig Hallowes who is a trustee and beneficiary of The Brabazon Trust,
which owns 100% of Antediluvian Investments (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 1 094 485
Total value: R47 051 910.15
Nature and extent of director’s interest: Indirect beneficial
Name of associate: The Brabazon Trust
Name of director and relationship to director: Craig Hallowes who is a trustee and beneficiary of The Brabazon Trust
Class of securities: Fortress A ordinary shares
Number of securities: 350 000
Total value: R6 163 500.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: The Brabazon Trust
Name of director and relationship to director: Craig Hallowes who is a trustee and beneficiary of The Brabazon Trust
Class of securities: Fortress B ordinary shares
Number of securities: 350 000
Total value: R15 046 500.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: The Lumar Family Trust
Name of director and relationship to director: Craig Hallowes who is a trustee of The Lumar Family Trust, the husband
of Helene Hallowes and the father of Marcel Hallowes, Ronin Hallowes
and Lucien Hallowes, all of whom are beneficiaries of The Lumar
Family Trust
Class of securities: Fortress A ordinary shares
Number of securities: 26 880
Total value: R473 356.80
Nature and extent of director’s interest: Indirect beneficial
Name of associate: The Lumar Family Trust
Name of director and relationship to director: Craig Hallowes who is a trustee of The Lumar Family Trust, the husband
of Helene Hallowes and the father of Marcel Hallowes, Ronin Hallowes
and Lucien Hallowes, all of whom are beneficiaries of The Lumar
Family Trust
Class of securities: Fortress B ordinary shares
Number of securities: 26 880
Total value: R1 155 571.20
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Helene Hallowes
Name of director and relationship to director: Helene Hallowes is the wife of Craig Hallowes
Class of securities: Fortress A ordinary shares
Number of securities: 65 170
Total value: R1 147 643.70
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Helene Hallowes
Name of director and relationship to director: Helene Hallowes is the wife of Craig Hallowes
Class of securities: Fortress B ordinary shares
Number of securities: 65 170
Total value: R2 801 658.30
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Lucien Hallowes
Name of director and relationship to director: Lucien Hallowes is the son of Craig Hallowes
Class of securities: Fortress A ordinary shares
Number of securities: 10 500
Total value: R184 905.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Lucien Hallowes
Name of director and relationship to director: Lucien Hallowes is the son of Craig Hallowes
Class of securities: Fortress B ordinary shares
Number of securities: 10 500
Total value: R451 395.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Marcel Hallowes
Name of director and relationship to director: Marcel Hallowes is the son of Craig Hallowes
Class of securities: Fortress A ordinary shares
Number of securities: 10 500
Total value: R184 905.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Marcel Hallowes
Name of director and relationship to director: Marcel Hallowes is the son of Craig Hallowes
Class of securities: Fortress B ordinary shares
Number of securities: 10 500
Total value: R451 395.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Ronin Hallowes
Name of director and relationship to director: Ronin Hallowes is the son of Craig Hallowes
Class of securities: Fortress A ordinary shares
Number of securities: 10 500
Total value: R184 905.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Ronin Hallowes
Name of director and relationship to director: Ronin Hallowes is the son of Craig Hallowes
Class of securities: Fortress B ordinary shares
Number of securities: 10 500
Total value: R451 395.00
Nature and extent of director’s interest: Indirect beneficial
Name of director: Iraj Abedian
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 7 000
Total value: R123 270.00
Nature and extent of director’s interest: Direct beneficial
Name of director: Iraj Abedian
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 7 000
Total value: R300 930.00
Nature and extent of director’s interest: Direct beneficial
Name of associate The Rumae Trust
Name of director and relationship to director: Rual Bornman, who is a trustee and beneficiary of The Rumae Trust
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 525 000
Total value: R22 569 750.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate Rumae Holdings (Pty) Ltd
Name of director and relationship to director: Rual Bornman, who is a trustee and beneficiary of The Rumae Trust,
which owns 100% of Rumae Holdings (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 490 000
Total value: R21 065 100.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Jean Avenue Property Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust,
which owns 100% of Jean Avenue Property Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 437 500
Total value: R7 704 375.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Jean Avenue Property Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust,
which owns 100% of Jean Avenue Property Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 437 500
Total value: R18 808 125.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 50% of Sakhisizwe Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 482 507
Total value: R8 496 948.27
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 50% of Sakhisizwe Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 482 507
Total value: R20 742 975.93
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Tambura Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 33.3% of Tambura Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 76 813
Total value: R1 352 676.93
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Tambura Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 33.3% of Tambura Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 76 813
Total value: R3 302 190.87
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Brown Desk Property Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust,
which owns 100% of Brown Desk Property Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 158 118
Total value: R2 784 457.98
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Brown Desk Property Investments (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust,
which owns 100% of Brown Desk Property Investments (Pty) Ltd
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 158 118
Total value: R6 797 492.82
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Ida Family Trust
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 1 783 600
Total value: R31 409 196.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Ida Family Trust
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family Trust
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 1 783 600
Total value: R76 676 964.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Daniella Teixeira
Name of director and relationship to director: Daniella Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 4 900
Total value: R86 289.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Daniella Teixeira
Name of director and relationship to director: Daniella Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 4 900
Total value: R210 651.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Natasha Teixeira
Name of director and relationship to director: Natasha Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 4 900
Total value: R86 289.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Natasha Teixeira
Name of director and relationship to director: Natasha Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 4 900
Total value: R210 651.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Nadia Teixeira
Name of director and relationship to director: Nadia Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress A ordinary shares
Number of securities: 4 900
Total value: R86 289.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Nadia Teixeira
Name of director and relationship to director: Nadia Teixeira is the daughter of Andrew Teixeira
Name of subsidiary: Capital
Class of securities: Fortress B ordinary shares
Number of securities: 4 900
Total value: R210 651.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Morulat Property Investments 1 (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd,
which owns 100% of Morulat Property Investments 1 (Pty) Ltd
Class of securities: Fortress A ordinary shares
Name of subsidiary: Capital
Number of securities: 8 750
Total value: R154 087.50
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Morulat Property Investments 1 (Pty) Ltd
Name of director and relationship to director: Andrew Teixeira, who is a trustee and beneficiary of the Ida Family
Trust, which owns 50% of Sakhisizwe Investment Holdings (Pty) Ltd,
which owns 100% of Morulat Property Investments 1 (Pty) Ltd
Class of securities: Fortress B ordinary shares
Name of subsidiary: Capital
Number of securities: 8 750
Total value: R376 162.50
Nature and extent of director’s interest: Indirect beneficial
2 December 2015
Sponsor
Java Capital
Date: 02/12/2015 11:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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