South African property company Attacq Ltd. gained consent on its proposed conversion into a real estate investment trust from the Johannesburg Stock Exchange, effective May 29.
The JSE-listed company reiterated its plan to pay a maiden distribution worth 73 South African cents per share for the 12-month term ending June 30, in October.
Attacq earlier projected an annual distribution growth of 20% for the next three years.
As of May 29, US$1 was equivalent to 12.63 rand.
