RDI shares slump despite standstill agreement with lender
Shares in RDI Reit slumped 14.7% to R24.75 on Wednesday morning, even as the landlord said it had reached a standstill agreement with a firm that finances four of its malls in the UK.
“The board considered the proposal, which undervalued the company and its prospects, and, as a result, the board took the unanimous decision not to support a further period of due diligence,” RDI said on Tuesday.
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