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Dealings in securities by directors of Fortress and their associates
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 OF FORTRESS AND THEIR ASSOCIATES
Shareholders of Fortress are referred to the announcements released on SENS relating to the general offer by Fortress to the
shareholders of Lodestone REIT Limited (“Lodestone”) to acquire all of their Lodestone shares in exchange for one Fortress A
ordinary share and one Fortress B ordinary share for every 6.66667 Lodestone shares held (the “general offer”) the last of which
was released on SENS by Fortress on 19 September 2016. Fortress has received irrevocable undertakings from 94.65% of
Lodestone shareholders to accept the general offer, which remains conditional upon approval from the Competition Authorities.
Shareholders are advised of the dealings in securities by directors of Fortress and associates of directors of Fortress in respect of
the general offer as set out below.
Transaction date: 19 September 2016
Price per security: R16.38 per Fortress A ordinary share (being the closing price per Fortress A
ordinary share on 20 July 2016, the date prior to the release of the
Lodestone cautionary announcement).
R36.37 per Fortress B ordinary share (being the closing price per Fortress B
ordinary share on 20 July 2016, the date prior to the release of the
Lodestone cautionary announcement).
Nature of transaction: Irrevocable undertaking to accept the general offer
Name of director: Jeff Zidel
Class of securities: Fortress A ordinary shares
Number of securities: 63 978
Total value: R1 047 959.64
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Jeff Zidel
Class of securities: Fortress B ordinary shares
Number of securities: 63 978
Total value: R2 326 879.86
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
Name of associate: Lynn Zidel
Name of director: Jeff Zidel
Relationship to director: Wife
Class of securities: Fortress A ordinary shares
Number of securities: 63 978
Total value: R1 047 959.64
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Lynn Zidel
Name of director: Jeff Zidel
Relationship to director: Wife
Class of securities: Fortress B ordinary shares
Number of securities: 63 978
Total value: R2 326 879.86
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Maxtrade Seven (Pty) Ltd
Name of director and relationship to director: Jeff Zidel who owns 100% of Maxtrade Seven (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 473 867
Total value: R7 761 941.46
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Maxtrade Seven (Pty) Ltd
Name of director and relationship to director: Jeff Zidel who owns 100% of Maxtrade Seven (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 473 867
Total value: R17 234 542.79
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: 21 045
Total value: R344 717.10
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: 21 045
Total value: R765 406.65
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: 8 957
Total value: R146 715.66
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: 8 957
Total value: R325 766.09
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: 750
Total value: R12 285.00
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: 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: 750
Total value: R27 277.50
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: 2 240 404
Total value: R36 697 817.52
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: 2 240 404
Total value: R81 483 493.48
Nature and extent of director’s interest: Indirect beneficial
Name of associate: 35 Los Palmos CC
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust,
which owns 100% of 35 Los Palmos CC
Class of securities: Fortress A ordinary shares
Number of securities: 7 500
Total value: R122 850.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: 35 Los Palmos CC
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust,
which owns 100% of 35 Los Palmos CC
Class of securities: Fortress B ordinary shares
Number of securities: 7 500
Total value: R272 775.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Stand 214 Needwood CC
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust,
which owns 100% of Stand 214 Needwood CC
Class of securities: Fortress A ordinary shares
Number of securities: 4 279
Total value: R70 090.02
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Stand 214 Needwood CC
Name of director and relationship to director: Mark Stevens who is a trustee and beneficiary of MWS Investment Trust,
which owns 100% of Stand 214 Needwood CC
Class of securities: Fortress B ordinary shares
Number of securities: 4 279
Total value: R155 627.23
Nature and extent of director’s interest: Indirect beneficial
Name of associate Limit 26 Investments One (Pty) Ltd
Name of director and relationship to director: Wiko Serfontein who is a trustee and beneficiary of Serfontein Familie
Trust, which owns Limit 26 Investments One (Pty) Ltd
Class of securities: Fortress A ordinary shares
Number of securities: 202 500
Total value: R3 316 950.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate Limit 26 Investments One (Pty) Ltd
Name of director and relationship to director: Wiko Serfontein who is a trustee and beneficiary of Serfontein Familie
Trust, which owns Limit 26 Investments One (Pty) Ltd
Class of securities: Fortress B ordinary shares
Number of securities: 202 500
Total value: R7 364 925.00
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Eline Serfontein
Name of director: Wiko Serfontein
Relationship to director: Daughter
Class of securities: Fortress A ordinary shares
Number of securities: 75
Total value: R1 228.50
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Eline Serfontein
Name of director: Wiko Serfontein
Relationship to director: Daughter
Class of securities: Fortress B ordinary shares
Number of securities: 75
Total value: R2 727.75
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Luan Serfontein
Name of director: Wiko Serfontein
Relationship to director: Son
Class of securities: Fortress A ordinary shares
Number of securities: 75
Total value: R1 228.50
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Luan Serfontein
Name of director: Wiko Serfontein
Relationship to director: Son
Class of securities: Fortress B ordinary shares
Number of securities: 75
Total value: R2 727.75
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investment Holdings (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
Class of securities: Fortress A ordinary shares
Number of securities: 8 957
Total value: R146 715.66
Nature and extent of director’s interest: Indirect beneficial
Name of associate: Sakhisizwe Investment Holdings (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
Class of securities: Fortress B ordinary shares
Number of securities: 8 957
Total value: R325 766.09
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
Number of securities: 750
Total value: R12 285.00
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 B ordinary shares
Number of securities: 750
Total value: R27 277.50
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
Class of securities: Fortress A ordinary shares
Number of securities: 12 796
Total value: R209 598.48
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
Class of securities: Fortress B ordinary shares
Number of securities: 12 796
Total value: R465 390.52
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
Class of securities: Fortress A ordinary shares
Number of securities: 2 125 592
Total value: R34 817 196.96
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
Class of securities: Fortress B ordinary shares
Number of securities: 2 125 592
Total value: R77 307 781.04
Nature and extent of director’s interest: Indirect beneficial
Name of director: Steven Brown
Class of securities: Fortress A ordinary shares
Number of securities: 2 550
Total value: R41 769.00
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Steven Brown
Class of securities: Fortress B ordinary shares
Number of securities: 2 550
Total value: R92 743.50
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
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
Class of securities: Fortress A ordinary shares
Number of securities: 479 261
Total value: R7 850 295.18
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
Class of securities: Fortress B ordinary shares
Number of securities: 479 261
Total value: R17 430 722.57
Nature and extent of director’s interest: Indirect beneficial
Name of director: Fareed Wania
Class of securities: Fortress A ordinary shares
Number of securities: 3 954
Total value: R64 766.52
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Fareed Wania
Class of securities: Fortress B ordinary shares
Number of securities: 3 954
Total value: R143 806.98
Nature and extent of director’s interest: Direct beneficial
Clearance to deal received: Yes
19 September 2016
Sponsor
Java Capital
Date: 19/09/2016 05:24:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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