Redefine International has completed the internalisation of its manager, paving the way for conversion to a UK REIT on 4 December.
The firm said the South African Reserve Bank had approved Redefine International’s purchase of a stake in Redefine International Fund Manager.
RIFM shareholders will receive 79m shares of 8p each in Redefine International as part of the deal.
The appointment of Andrew Rowell as a director of the company has been approved and takes effect from today.
It has also adopted a new performance share plans.
bridget.o’connell@estatesgazette.com
