Sharenet Sites 
Sharenet Sites
General repurchase of Fortress B shares
FORTRESS REIT 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")
GENERAL REPURCHASE OF FORTRESS B SHARES
In compliance with paragraph 11.27 of the JSE Listings Requirements, shareholders are advised that Fortress
has, through its subsidiary Capital Propfund Pty Ltd ("Capital"), repurchased 38 662 156
Fortress B shares, representing 3.54% of the Fortress B shares in issue, in terms of the general authority to
repurchase shares granted by shareholders at the annual general meeting held on Friday, 30 November 2018
("the repurchase").
The details of the repurchase are as follows:
Date of repurchase: 30 November 2018 - 28 May 2019
Number of shares repurchased: 38 662 156
Lowest repurchase price per share: R10.2393
Highest repurchase price per share: R14.2582
Volume weighted average price: R11.3336
Total value of shares repurchased: R438 181 671.37
The repurchases were made through the order book of the JSE, without any prior understanding or
arrangement between the company and the counter parties. The repurchase was funded from the company's
available cash resources.
Following the repurchase, the company may repurchase a further 70 491 143 Fortress B shares, representing
6.46% of the issued B share capital of the company at the time that the general authority was granted.
The repurchased shares will be held by Capital as treasury shares.
No shares were repurchased during a prohibited period.
Statement by the board of directors
The board of directors of Fortress has considered the effect of the repurchase and is of the opinion that, for a
period of 12 months following the date of this announcement:
- the company and the group will be able, in the ordinary course of business, to pay its debts;
- the assets of the company and the group will be in excess of the liabilities of the company and the group;
- the company and the group's ordinary share capital and reserves will be adequate for ordinary business
purposes;
- the company and the group will have adequate working capital for ordinary business purposes; and
- the company and the group have passed the solvency and liquidity test and since the test was performed,
there have been no material changes to the financial position of the group.
Financial information
The repurchase will result in a reduction of available cash resources of R438 181 671.37 and 38 662 156 fewer
Fortress B shares in issue for purposes of calculating dividend per share.
30 May 2019
Lead sponsor
Java Capital
Joint sponsor
Nedbank Corporate and Investment Banking
Date: 30/05/2019 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
