Archives for March 2022

Attacq and SAGE Foundation collectively invest over R3.2 million in bolstering child development and education within Thembisa community

Attacq Foundation, a corporate social investment initiative focused on sustainable education and training, powered by Attacq Limited; is delighted to announce that the construction of three new classrooms at Phuthumani Primary School has commenced. The initiative forms part of Attacq Foundation’s commitment to meaningfully empower the youth through education, equipping them with the necessary skills to be sufficiently prepared to move South Africa forward through employment and entrepreneurship.

Founded in 1899, Phuthumani Primary School is an anchor of the Thembisa community. It plays a crucial role in instilling fundamental knowledge to 1 366 learners in a safe, reliable and conducive learning environment.

Danny Vermeulen, Transformation Manager at Attacq, commented, “We are proud to commence the construction of the three classrooms at Phuthumani Primary School, following our initial decision to formalise the adoption of the school. This initiative is particularly close to our hearts at Attacq, as we fully appreciate the important role primary education plays in our society as the incubator for the next generation of leaders, thinkers, and innovators.”

The Attacq Foundation and Phuthumani Primary School partnership was born from a collaborative project with the SAGE Foundation. Recognising the school’s need for support in the wake of the COVID-19 pandemic, hygiene packs, 230 school shoes and 100 training shoes were donated to pupils in need. Additionally, two classrooms were renovated, ensuring students and teachers had access to a refreshed and inviting educational environment. The successful project garnered significant support from Attacq and SAGE foundations’ various stakeholders, who recognised the initiative’s potential to make a meaningful impact on this school and the wider Thembisa community.

The three-year initiative is now in partnership with SAGE Foundation, where both parties have committed to invest over R1.6 million respectively, reflecting the depth of the pledge to sustainable social development.

SAGE Foundation commits to implement learner and teacher skills development programmes, launch an ICT project and ensure that learners have access to smart tablets.
As part of Attacq’s vision to ensure a positive impact on its communities and environment in which it operates, the construction of the three new classrooms will be contracted to Guanxi Combine Civil and Building Construction—a local Level 1 BEE black female-owned SMME business that employs members of the Thembisa community and surrounding areas. As a result, the ripple effects of this project will touch numerous lives both within and outside of Phuthumani Primary School.
This partnership is primed for longevity. Upon completion of the three classrooms, Attacq Foundation and SAGE Foundation will expand their collaboration with Phuthumani Primary School by identifying additional key projects to assist the school in meeting its educational objectives.

Redefine EPP buyout receives overwhelming shareholder support

Redefine Properties (JSE: RDF) received the green light from shareholders to finalise the delisting and takeover of EPP (JSE: EPP), Poland’s largest retail landlord, in January.  This followed the 29 November 2021 share-for-share offer to acquire all of the remaining shares in EPP N.V. not already owned by Redefine.

Redefine confirms that the offer by Redefine, which closed on March 4, was accepted by EPP shareholders holding a total of 381 651 727 EPP shares, representing 90.79% of the EPP shares in issue (excluding EPP shares held by Redefine and I Group).

Following the implementation of the Redefine offer and the repurchase by EPP of 74 993 917 EPP shares from I Group, Redefine will hold 794 220 512 EPP shares, representing 95.35% of EPP shares in issue (excluding any EPP treasury shares ).  A total of 1 030 459 642 new Redefine shares will be issued as a result of the Redefine offer.

The listing of EPP shares on the Main Board of the JSE and the official list of the LuxSE will be terminated at the commencement of trade on Tuesday, 8 March 2022. The deal amounts to an estimated R7.2 billion in additional equity for Redefine and adds around R19.7 billion of total assets onto its balance sheet.

Fortress REIT Issues a Further R1.3 Billion In Sustainability-Linked Bonds

Johannesburg, 3 March 2022: The JSE Limited has granted Fortress REIT, South Africa’s largest logistics real estate company, the listing of a further R1.3 billion sustainability-linked notes, referencing the company’s existing solar installation programme. In August 2021, Fortress announced that the JSE had granted the listing of a 3-year sustainability-linked bond of R495 million and a 5-year sustainability-linked note of R405 million.

Sustainability-linked bonds have increasingly been used around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors.

The 2022 notes were issued as followed:

  • R450 000 000 3-year note with the target measurement date of 30 June 2023
  • R500 000 000 5-year note with the target measurement date of 30 June 2023 and 2025
  • R350 000 000 5.5-year note with target measurement date of 30 June 2023 and 2025

These notes have a combined target of 12.735 MWp by June 2025. The bonds do not have specific use-of-proceed requirements but carry a pricing benefit if the KPIs are met.

In 2021, Fortress completed six solar PV installation projects, totalling 3.4 MWp. These plants will generate an estimated 6700 MWh of renewable energy, resulting in carbon savings of over 6,800 tonnes in Year 1. This brings the total solar PV plants installed across the portfolio to 6.5 MWp, with more planned to roll out in 2022 and beyond. In addition, the first battery installation at Bloemfontein Value Mart is now operational.

“By 2025, our goal is to exceed 12.7 MWp installed of solar energy,” said Ian Vorster, CFO of Fortress REIT Limited. “When combined with our latest note, our aim is to provide a total solar energy output target of 25 000 MWh of renewable energy by 2025 making us a significant contributor of solar energy within the local REIT sector. This is equivalent to the annual electricity consumption of approximately 10 000 average South African homes.

“The scaling up of our renewable energy outputs to deliver more solar energy is aligned with our ongoing strategic ESG plan. By continuing to install and increase the use of solar energy across our retail and logistics portfolios, it allows us to meet our tenants’ needs, facilitate a reduction in reliance on utilities and more importantly, contribute to mitigating climate change.” concluded Ian Vorster.

Fortress REIT Issues a Further R1.3 Billion In Sustainability-Linked Bonds

The JSE Limited has granted Fortress REIT, South Africa’s largest logistics real estate company, the listing of a further R1.3 billion sustainability-linked notes, referencing the company’s existing solar installation programme. In August 2021, Fortress announced that the JSE had granted the listing of a 3-year sustainability-linked bond of R495 million and a 5-year sustainability-linked note of R405 million.

Sustainability-linked bonds have increasingly been used around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors.

The 2022 notes were issued as followed:

  • R450 000 000 3-year note with the target measurement date of 30 June 2023
  • R500 000 000 5-year note with the target measurement date of 30 June 2023 and 2025
  • R350 000 000 5.5-year note with target measurement date of 30 June 2023 and 2025

These notes have a combined target of 12.735 MWp by June 2025. The bonds do not have specific use-of-proceed requirements but carry a pricing benefit if the KPIs are met.

In 2021, Fortress completed six solar PV installation projects, totalling 3.4 MWp. These plants will generate an estimated 6700 MWh of renewable energy, resulting in carbon savings of over 6,800 tonnes in Year 1. This brings the total solar PV plants installed across the portfolio to 6.5 MWp, with more planned to roll out in 2022 and beyond. In addition, the first battery installation at Bloemfontein Value Mart is now operational.

“By 2025, our goal is to exceed 12.7 MWp installed of solar energy,” said Ian Vorster, CFO of Fortress REIT Limited. “When combined with our latest note, our aim is to provide a total solar energy output target of 25 000 MWh of renewable energy by 2025 making us a significant contributor of solar energy within the local REIT sector. This is equivalent to the annual electricity consumption of approximately 10 000 average South African homes.

“The scaling up of our renewable energy outputs to deliver more solar energy is aligned with our ongoing strategic ESG plan. By continuing to install and increase the use of solar energy across our retail and logistics portfolios, it allows us to meet our tenants’ needs, facilitate a reduction in reliance on utilities and more importantly, contribute to mitigating climate change.” concluded Ian Vorster.