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Fortress - financial assistance
In terms of the provisions of section 45(5)(a) of the Companies Act, 71 of 2008 and pursuant to the special resolution passed at the annual general meeting of the Company held on 3 December 2024 authorising the board of directors of Fortress (the "board") to provide direct or indirect financial assistance to related and inter-related companies, notification is hereby given that the board adopted a resolution authorising Fortress to provide financial assistance to related and inter-related companies of Fortress, which financial assistance exceeds one-tenth of one percent of the Company's net worth.
The resolution adopted by the board relates to financial assistance granted to, inter alia, give effect to the treasury requirements of the Fortress group, including guarantees and inter-company loans given by Fortress in respect of the obligations of present subsidiaries and related or inter-related companies of Fortress.
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