Fortress director pledges more shares for increased R34m loan facility
Fortress Real Estate Investments Limited announced that director Steven Brown has pledged an additional 1,846,605 FFB ordinary shares. This off-market pledge serves as security for a financial obligation, increasing the aggregate number of FFB shares pledged to 4,747,290. The transaction, dated October 6, 2025, reflects a deemed price of R23.40 per security, resulting in a deemed total value of R43,210,557.00 for this additional pledge. Steven Brown's interest in this transaction is direct and beneficial, and clearance to deal was received.
This latest pledge follows previous SENS announcements regarding a loan of R26 million, for which FFB shares were initially pledged. With the new shares, the facility limit for the loan has been increased to R34 million. The terms of the loan remain unchanged, notably lacking a fixed repayment date and being callable on 30 days’ notice. The closing price used for the deemed valuation of the securities was R23.40 on October 3, 2025.
Java Capital is the lead sponsor for Fortress Real Estate Investments Limited, with CIB acting as the debt sponsor and joint equity sponsor.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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