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

Release Date: 31/10/2018 12:35
Code(s): FFB FFA FIFB11 FIFB14 FIFB12 FIFB15 FIFB08 FIFB10 FIFB09     PDF:  
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Dealings in securities by directors and by the company secretary of Fortress

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")


DEALINGS IN SECURITIES BY DIRECTORS AND BY THE COMPANY SECRETARY OF FORTRESS


Shareholders are 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 5-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:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                179 200
Price per security:                                  RNil
Total deemed value:                                  R3 033 856.00 (at a deemed price per security of R16.93)
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:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                179 200
Price per security:                                  RNil
Total deemed value:                                  R2 727 424.00 (at a deemed price per security of R15.22)
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:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                149 300
Price per security:                                  RNil
Total deemed value:                                  R2 527 649.00 (at a deemed price per security of R16.93)
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:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                149 300
Price per security:                                  RNil
Total deemed value:                                  R2 272 346.00 (at a deemed price per security of R15.22)
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:                                    Fareed Wania
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                131 400
Price per security:                                  RNil
Total deemed value:                                  R2 224 602.00 (at a deemed price per security of R16.93)
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:                                    Fareed Wania
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                131 400
Price per security:                                  RNil
Total deemed value:                                  R1 999 908.00 (at a deemed price per security of R15.22)
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:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                107 500
Price per security:                                  RNil
Total deemed value:                                  R1 819 975.00 (at a deemed price per security of R16.93)
Nature of transaction:                               Off-market acceptance of award shares in terms of the
                                                     Plan
Nature and extent of company secretary's interest:   Direct beneficial
Clearance to deal received:                          Yes

Name of company secretary:                           Tamlyn Stevens
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                107 500
Price per security:                                  RNil
Total deemed value:                                  R1 636 150.00 (at a deemed price per security of R15.22)
Nature of transaction:                               Off-market acceptance of award shares in terms of the
                                                     Plan
Nature and extent of company secretary's interest:   Direct beneficial
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
period of 5 years 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:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                537 500
Price per security:                                  R16.93
Total value:                                         R9 099 875.00
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:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                537 500
Price per security:                                  R15.22
Total value:                                         R8 180 750.00
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:                                    Vuso Majija
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                149 300
Price per security:                                  R16.93
Total value:                                         R2 527 649.00
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:                                    Vuso Majija
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                149 300
Price per security:                                  R15.22
Total value:                                         R2 272 346.00
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:                                    29 October 2018
Class of securities:                                 Fortress A ordinary shares
Number of securities:                                107 500
Price per security:                                  R16.93
Total value:                                         R1 819 975.00
Nature of transaction:                               Off-market acceptance of shares in terms of the Plan
Nature and extent of company secretary's interest:   Direct beneficial
Clearance to deal received:                          Yes

Name of company secretary:                           Tamlyn Stevens
Transaction date:                                    29 October 2018
Class of securities:                                 Fortress B ordinary shares
Number of securities:                                107 500
Price per security:                                  R15.22
Total value:                                         R1 636 150.00
Nature of transaction:                               Off-market acceptance of shares in terms of the Plan
Nature and extent of company secretary's interest:   Direct beneficial
Clearance to deal received:                          Yes

31 October 2018


Lead sponsor
Java Capital

Joint sponsor
Nedbank Corporate and Investment Banking

Date: 31/10/2018 12:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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