Though Fortress Reit is having hiccups with its unresolved capital structure, resulting in the company not paying dividends, it has delivered a strong set of results for the financial year ended June 2022.
In August, the majority of Fortress Reit A and B shareholders voted against the proposed share scheme in which Fortress proposed to exchange each A-ordinary share for 3.01 B-shares. If shareholders had voted in favour of the proposed scheme, they could have enjoyed R1.707bn in distributable earnings for the 2022 financial year...
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