FORTRESS REIT LIMITED - Update to request for independent investigation from institutional investors

Release Date: 06/09/2018 17:25
 
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Update to request for independent investigation from institutional investors

FORTRESS REIT LIMITED
(previously Fortress Income Fund 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")


UPDATE TO REQUEST FOR INDEPENDENT INVESTIGATION FROM INSTITUTIONAL INVESTORS


Shareholders are referred to the announcement dated 27 August 2018 whereby shareholders were advised that the
Company has received a request from several institutional investors (the "Authors"), some of whom hold Fortress
shares, to commission an independent investigation into allegations made against the Company, its directors and
shareholders (the "Request").

The Company hereby wishes to advise shareholders that it has established a special ad hoc subcommittee, with a mandate
to consider the issues raised in the Request and to engage with the Authors with a view to addressing their concerns as
well as other significant A and B shareholders that are not signatories to the Request. Robin Lockhart-Ross chairs the
subcommittee alongside Djurk Venter and Bongiwe Njobe, all of whom are independent non-executive directors. No
limitation has been placed on the scope of work nor the historical timeline which the subcommittee may investigate.

The Company has prepared a response to the Request, which has been sent to the Authors.

It is in the Company's best interests that the investigation by the Financial Services Conduct Authority ("FSCA") in
respect of trades in Fortress shares be concluded as soon as possible. Fortress has recently reiterated its full cooperation
to the FSCA to facilitate and expedite the completion of the FSCA investigation.

6 September 2018


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

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