Redefine Properties said on Friday it had received confirmation from the JSE that the bourse had found no breaches of its listing requirements in relation to the battle for Fountainhead Property Trust’s portfolio.

Growthpoint announces the withdrawal of its offer for Fountainhead.

Redefine Properties CEO Marc Wainer retires from the board of Hyprop Investments.

Fountainhead reports a distribution of 26.11c per unit for the six months to March‚ down 6.8% from the similar period a year earlier.

The JSE had declined Growthpoint Properties’ request for a ruling that Redefine be precluded from voting on all resolutions relating to Growthpoint’s bid for Fountainhead’s R10bn portfolio‚ Redefine said on Monday.

Growthpoint released an announcement on 17 April 2013 leveling a number of allegations against Redefine and Fountainhead Property Trust Management Limited (“Fountainhead Manco”).

The battle between listed property heavyweights Growthpoint Properties and Redefine Properties for a R10bn blue-chip retail portfolio flared up anew on Wednesday, with Growthpoint digging in its heels and indicating that it has no intention of giving up on its bid.

Growthpoint says it is pushing ahead with its revised proposal to acquire Fountainhead’s portfolio despite the latter’s declaration last month that it had terminated talks in this regard.

Redefine has a number of plans for Fountainhead’s assets and structure to block Growthpoint's bid for Fountainhead portfolio.

Redefine Properties welcomes the decision by Fountainhead’s independent committee to terminate its engagement with Growthpoint following Growthpoint’s proposal to acquire Fountainhead’s assets. 

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