Redefine aboard top global index

Posted On Thursday, 17 September 2009 02:00 Published by
Rate this item
(0 votes)

Redefine Income Fund ,one of SA’s largest listed property companies, will from Monday appear on the Global Property Research 250 index joining nine other South African companies on the list.

 

Marc WainerThe index is a free-float weighted index that tracks the performance of the 250 leading and most liquidated property companies worldwide.

Companies are selected on the dollar trade volume of the share in the past 12 months. Only companies with a free-float market capitilisation of more than 50m and free float percentage of at least 15% are eligible.

Redefine became eligible after acquiring ApexHi Properties and owning Ambit Properties. The group did not meet eligibility criteria previously because it did not receive at least 75% of its operational turnover from property related activities.

Redefine, ApexHi Properties and Madison Property Fund, which merged into one entity called Redefine last month, announced distributions to the end of June, aligning all unitholders to the same period to pave the way for the proposed merger of the three companies.

The merger resulted in Redefine becoming the second local property share after Growthpoint to make the JSE’s Alsi top 40 index.

ApexHi announced a combined distribution for the period April 1 to June 30 of 96c from 91c previously, exceeding the 93,75c threshold per quarter when the A and B units started participating in the income growth, with the A units receiving 34,56c (36%), the B units 42,24c (44%) and the C units 19,20c (20%).

Fourth quarter distribution brought total distribution for the 12 months to last month to 367,65c from 337c last year.

Last modified on Tuesday, 29 April 2014 12:00

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Evictions
Buying an investment property is great, especially when you’ve chosen a good location.…

Money laundering risks on the rise in real estate

May 05, 2022
James George
Property practitioners in South Africa have been identified as potentially vulnerable to…

Fairvest to list on A2X

May 04, 2022
Fairvest Limited has been approved for a secondary listing on A2X Markets and will be…

Dipula reports solid interim results; all conditions precedent for the repurchase of Dipula A-shares fulfilled

May 05, 2022
Izak Petersen
South-African focused JSE-listed diversified REIT, Dipula Income Fund, today announced…

Please publish modules in offcanvas position.