Growthpoint abandons quest for Fontainhead Property Trust

Fountainhead’s business due to delays and uncertainty‚ and in line with its intentions to acquire a "meaningful stake" if it did not acquire the assets. Redefine’s significant stake would have made it difficult for Growthpoint to win a unitholder vote to secure the assets‚ which subsequently led the Fountainhead board’s independent committee to terminate its engagement with Growthpoint. Following an investigation into Growthpoint’s allegations‚ the JSE said in June it had found no breaches by Redefine of the JSE listings requirements.
11 Nov 2014
Author JSE