FORTRESS REAL ESTATE INVESTMENTS LIMITED - Results of the capitalisation issue

Results of the capitalisation issue

FORTRESS REAL ESTATE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share code: FFB
ISIN: ZAE000248506
Bond company code: FORI
LEI: 378900FE98E30F24D975
("Fortress" or the "Company")


RESULTS OF THE CAPITALISATION ISSUE


Shareholders are referred to the declaration of a cash dividend of 81.44308 cents per Fortress B ordinary share
("FFB share") for the six months ended 31 December 2023 (the "cash dividend") with an option for eligible
Fortress B shareholders to elect to receive new fully paid-up FFB shares (the "capitalisation shares") (the
"capitalisation issue"), published on SENS on 22 March 2024, and the announcement of the reference price per
capitalisation share (being 1 410.99122 cents per share) applicable to eligible Fortress B shareholders electing the
capitalisation issue, published on SENS on 2 April 2024.

Fortress B shareholders holding 395 370 972 FFB shares or 33.79% of FFB shares in issue (prior to the
capitalisation issue) who qualify to receive the cash dividend elected to receive the capitalisation shares, resulting
in the issue of 22 820 986 new FFB shares, thereby retaining R322 002 297.02 in new equity for Fortress.
Accordingly, the total number of FFB shares in issue post the issue of the capitalisation shares pursuant to the
capitalisation issue will be 1 192 801 293.

New FFB shares will be issued in dematerialised format only. Eligible Fortress B shareholders who elected the
capitalisation issue for all or part of their Fortress B shareholding will receive their new FFB shares on Monday,
15 April 2024.

In respect of shareholders who made no election, payment of the cash dividend will be made via electronic funds
transfer on Monday, 15 April 2024.

15 April 2024


Lead sponsor                                         
Java Capital              
                        
Joint sponsor 
NedbankCorporate and Investment Banking,    
(a division of Nedbank Limited)           
Date: 15-04-2024 09:45:00
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