The Supreme Court on Friday 17th November sanctioned the Redefine Income Fund / Spearhead Property Holdings merger for which an overwhelming majority of the shareholders in both groups had already given their approval.  The merger is therefore now a fait accompli and Spearhead will delist from the JSE within the next week.

Listed property loan stock company Redefine Income Fund said on Tuesday it would be developing a R120m distribution hub for Pepkor Retail in Johannesburg.

Redefine Income Fund will undertake the development of an innovative R120 million distribution hub for Pepkor Retail Limited.

The Competition Commission has approved of the merger of Redefine Income Fund and Spearhead Property Holdings without condition

In excess of 58% of Spearhead's unit-holders voted in favour of a takeover offer from Redefine Income Fund at the Spearhead Special Meeting called today (Tuesday 24  October).  The motion was carried with 100% of those voting in favour of the takeover by Redefine.  

With work having started on the Gautrain project, Rosebank property owners Redefine Income Fund and Standard Bank Property Finance and Advisory Services are planning a rejuvenation project for the Rosebank Arena precinct, which could be worth up to R450m.

Redefine Income Fund today announced a 16% increase in total distributions for the year ended 31 August 2006 of 42.7 cents per linked unit. This represents a total income and capital growth of 41% and a total return of 35%.

Listed property loan stock company Redefine Income Fund said yesterday it had acquired the R94m Makhado Crossing shopping centre in Makhado.

Property fund CIREF, which has a 60% South African shareholding and is listed on London's Alternative Investment Market (AIM), has acquired three properties for R212m to boost the value of its property portfolio to R1,4bn.

ABSA Bank has acquired full control of the management company of listed property company Ambit Properties for an undisclosed amount