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

On Auction: Iconic Redevelopment Opportunity in Oranjezicht Cape Town

Aug 26, 2021
The_Lenox
Currently operating as a 43 room guesthouse / backpackers.

Growthpoint begins construction of the Kent residential apartments in KZN

Aug 26, 2021
Marius Els, Development Project Manager at Growthpoint Properties
Growthpoint Properties (JSE: GRT) has commenced the development of Kent, its first…

On Auction: Spacious offices with multiple amenities in Norwood

Aug 26, 2021
Default Image
Spacious offices with multiple amenities on Auction in Norwood.

On Auction: Retail & Offices Property with unutilised bulk in Rivonia Johannesburg

Aug 26, 2021
KTM_Building
The anchor tenant is Road Adventure Dirt (Pty) Ltd (RAD) which is the premier KTM…

On Auction: Commercial Historical Building in Cape Town

Aug 25, 2021
Cape Town Commercial Property for Sale - 3 Church Street
436sqm Commercial building comprising of retail and office space.

Please publish modules in offcanvas position.