13th Jul 2020 15:42
(Alliance News) - RDI REIT PLC said Monday that Non-Executive Director Pieter Prinsloo and his alternate Andrew Konig have stepped down from the board of the real estate investment trust with immediate effect.
This follows the sale by Johannesburg-listed Redefine Properties Ltd of 111.9 million shares in RDI for 95 pence per share, or GBP106.3 million. The shares sold represented a 29% stake in RDI REIT and were sold to private investment firm Starwood Capital Group.
RDI said the Nominations Committee of its board is considering replacements, and will make an announcement in "due course".
Shares in RDI REIT were up 3.7% at 84.60 pence in London, while its Johannesburg shares were down 1.2% at ZAR17.79 on Monday.
By Dayo Laniyan; [email protected]
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