Preference Share Sweep Rate definition
Preference Share Sweep Rate means 90%; “Preference Share Terms” means the preferences, rights, limitations, and other terms attaching to each preference share. “Preference Dividend” means, in relation to each Preference Share, and on each relevant Dividend Payment Date, an amount equal to the Available Cash for Distributions divided by the number of Outstanding Preference Shares on that Dividend Payment Date; “Property SPV”, “GF Property SPV 1” or “SPV 1” means GF Property SPV 1 (Registration nr. 2021/532276/07) which will hold the fibre networks held at various sites across South Africa, see Annexures 5-7 for details; “Public” means “public” as contemplated in terms of the Companies Act; “Rand” or “R” means South African Rand, being the lawful currency of South Africa; “REIT” means the Company and its Subsidiaries; “Reporting Accountant & Auditor’s Report” means the report issued by the Reporting Auditor in accordance with paragraph 8.8 of the CTSE Listing Requirements; “Reporting Accountant & Auditor” means Moore Stellenbosch Inc. (Registration Number: 1998/023606/21), being the Reporting Accountant & Auditor of the Company, an audit firm acceptable to CTSE and registered with IRBA; “Scheduled Dividend Payment Date” or “Dividend Payment Date” means, prior to the Redemption Date, 31 March, and 30 September of each year (or such other dates as the Board may determine in accordance with the Asset Management Agreement); “Securities” means “securities” as contemplated in terms of the Financial Markets Act; “Shareholders” means either or both the Ordinary Shareholders or the A Preference Shareholders as the context may indicate; “Shares” means either or both the Ordinary Shares or the A Preference Shares as the context may indicate; “Share Register” means the share register of the Company which is required to be established by a for-profit company in terms of section 50(1) of the Companies Act; “South Africa” means the Republic of South Africa; “Special Resolution” means a special resolution as contemplated in terms of section 65(9) of the Companies Act, which in terms of the Constitution of the Company must be approved by at least 75% (seventy-five percent) of the voting rights entitled to be exercised; “Strate” means Strate Proprietary Limited (Registration Number: 1998/022242/07), a private company duly registered and incorporated in accordance with the company laws of South Africa, a central securities depository licensed in terms of the Financial Markets Act and responsible for the ...