All data is delayed
Loading...
See More

Fountainhead falls on Redefine talks

Aug 10 2012 10:18
I-Net Bridge

Johannesburg - Shares in property unit trust Fountainhead Property Trust [JSE:FPT] were 3% lower in opening trade on Friday after it announced earlier that it had entered formal negotiations with Redefine Properties over a proposed acquisition.

At 9:34am‚ Fountainhead’s shares were down 3.02% at R8.03.

It said in a JSE announcement that the offer from Redefine would see Redefine acquire all of Fountainhead’s assets in return for a combination of Redefine units and units in Hyprop Investments.

“Accordingly‚ unitholders are advised to exercise caution when dealing in their Fountainhead units until further announcements are made in this regard‚” Fountainhead said.


*Follow Fin24 on Twitter, Facebook and Google+.

 

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...