Shareholders will soon hear why money was paid last June, says Niki Vontas

THE JSE Securities Exchange SA announced yesterday that the listings of property companies Bonatla Property Holdings and Fairvest Property Holdings had been suspended after they failed to submit their provisional financial statements on time.

 Small investment company Gold Edge Investments is to be relaunched as a property loan stock company called Alpina Investments in August. 

Fairvest Property Holdings is set to follow the same path of fellow small-cap italisation company Bonatla Property Holdings by delisting within the next few months.

Property loan stock company has dropped its bid to take out the assets of Fairvest Property Holdings.

REDEFINE Income Fund has set its sights on the assets of Bonatla Property Holdings and those of Fairvest Property Holdings, which will bring it in confrontation with Niki Vontas, founding director of the two listed companies, and his group.

Two of the three cautionary notices that sparked speculation of a merger between three listed property funds, iFour, A-Prop and Bonatla, have been withdrawn.

But claims abound that he is profiteering.

Fairvest Property Holdings would announce the acquisition of a property portfolio totalling R420m this month, the company said last week.

Property loan stock company Fairvest has published its intention to make an 85c a linked unit offer for property investment company Bonatla.