Redefine Income Fund, the fourth largest property loan stock company listed on the JSE Limited today announced that it will give effect to a Broad-based Black Economic Empowerment (B-BBEE) transaction

The price of listed property fund ApexHi's C units are up a staggering 245% in six months. Not too shabby a return for investors who bought the stock at listing in October 2006 as a higher-risk alternative to ApexHi's existing A and B units. C units closed at 280c on listing day and touched 690c/share last Wednesday.

Clearwater Capital has increased its stake in ApexHi through the acquisition of another 30-million ApexHi C units for R138,5m

Clearwater Capital – one of the black economic empowerment unit holders in ApexHi Properties Limited - has acquired 80% of the C units held by the ApexHi BEE Trust in a transaction that sees four beneficiaries share R74,8-million profit only six months after the trust’s inception

ApexHi Properties Limited unit holders today voted in favour of the proposed new C unit, which paves the way for a BEE transaction that will see 10% of the voting rights in ApexHi held by Clearwater Capital and a broad-based BEE ownership scheme.