The implementation of the odd-lot offer -- compulsory to the 3,870 linked unitholders holding 99 linked units or less, and voluntary for the 1,820 unitholders who hold between 100 and 1,000 linked units -- is expected to reduce by over 4,000 the number of Redefine's shareholders on Redefine's register.

"The odd-lot offer will enable Redefine to decrease the substantial recurring costs of administration, estimated at R621,000 per annum, resulting from having a large number of odd-lot linked unitholders on the register," said Redefine Income Fund CEO, Brian Azizollahoff.

Effecting the cost saving immediately, Redefine's annual report will only be printed and distributed in accordance with the number of shareholders following the implementation of the offer.