Redefine CEO on the passing of founder Mark Wainer & navigating the COVID-19 crisis

Redefine Properties, a leading property company, has made strategic decisions in the face of the current economic challenges posed by the COVID-19 pandemic. Andrew Konig, the CEO of Redefine Properties, recently spoke to CNBC Africa to shed light on the company's performance and future outlook. As with many companies grappling with the impact of the global health crisis, Redefine Properties has had to alter its financial plans to adapt to the changing landscape. Konig highlighted that the company has chosen not to declare a dividend for its interim results and has withdrawn its previous distributable income per share guidance for the 2020 financial year. This move comes as the company witnessed a 43% decrease in its interim headline earnings per share. Konig emphasized the importance of prudently managing the company's resources to navigate these unprecedented times successfully. He acknowledged the significant challenges posed by the pandemic but expressed confidence in their ability to weather the storm. The passing of Redefine Properties' founder, Mark Wainer, added another layer of complexity to the situation. Konig paid tribute to Wainer's legacy and vision, emphasizing the importance of honoring his memory while steering the company through the crisis. Konig's insights provided a glimpse into the strategic decision-making processes underway at Redefine Properties as they strive to uphold their commitment to stakeholders and investors amidst turbulent times.