NEPI Rockcastle welcomes the conclusion of the investigation by the Financial Sector Conduct Authority (FSCA) relating to allegations of market abuse.

The PwC investigation commissioned in November last year by the Special Subcommittee of the board of directors of Fortress REIT Ltd (JSE: FFA and FFB), has found no conclusive evidence to confirm any of the allegations made against the Company or its Management in respect of market manipulation or insider trading and in respect of undue related party benefits or wrongdoing in historic property transactions.

Stakeholders’ attention is drawn to the announcement issued on 6 May 2019 by South Africa’s Financial Services Conduct Authority.

The Subcommittee of the Board of directors of Fortress REIT Ltd (JSE: FFA and FFB), which was set up on September 6 last year to review allegations made against the company and certain past and current directors, is making solid progress in delivering on its mandated scope of work.

In an effort to create an efficient City, the City of Joburg engaged with property owners and managers, investigating the feasibility of implementing managed lanes within the Joburg Inner City.

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