CLO PAP
CLO PAP
PAP/CLO - Pangbourne/Calulo - Payment of pro rata distribution
PANGBOURNE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/002352/06)
Share code: PAP & ISIN: ZAE000005252
("Pangbourne")
CALULO PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/006274/06)
Share code: CLO & ISIN: ZAE000060711
("Calulo")
PAYMENT OF PRO RATA DISTRIBUTION
Reference is made to the circular to Calulo Property Fund Limited
("Calulo") linked unitholders ("Calulo unitholders") dated 20 October
2006 ("the circular").
Details of Pangbourne Properties Limited`s ("Pangbourne") offer to Calulo
minority unitholders were outlined in the circular. Pangbourne was
obliged to extend an offer to Calulo minority unitholders to acquire all
or part of their Calulo linked units for the same or comparable
consideration to that paid to Matemeku Property Acquisitions 104
(Proprietary) Limited.
The offer comprised a cash consideration of 300 cents per Calulo linked
unit held at the record date, being Friday, 10 November 2006 at 12:00. In
addition, unitholders who accepted the offer are now entitled to receive
a pro rata distribution of 0,04739 cents per Calulo linked unit ("the pro
rata distribution").
The Calulo interim distribution previously declared, for the period 1
July 2006 to 31 December 2006, was 0,08 cents per Calulo linked unit. The
pro-rata distribution was calculated based on the period 1 July 2006 to
17 October 2006 as set out in the circular.
A register of Calulo unitholders who accepted the offer has been
maintained and the pro rata distribution will be paid to such Calulo
unitholders following receipt by Pangbourne of the interim distribution
by Calulo on Tuesday, 10 April 2007.
It is anticipated that Pangbourne will pay the pro rata distribution to
such Calulo unitholders, on or before Thursday, 12 April 2007.
Johannesburg
5 April 2007
Sponsor
Standard Bank
Date: 05/04/2007 15:53:01 Produced by the JSE SENS Department.
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