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MYT PAP
MYT PAP
MYT / PAP - Monyetla / Pangbourne - Results Of The Rights Offers
MONYETLA PROPERTY FUND LIMITED
(formerly Calulo Property Fund Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1987/006274/06)
Share code: MYT & ISIN: ZAE000093761
("Monyetla")
PANGBOURNE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/002352/06)
Share code: PAP & ISIN: ZAE000005252
("Pangbourne")
RESULTS OF THE RIGHTS OFFERS
1. Results of the Monyetla rights offer
The directors of Monyetla hereby announce the results of the rights offer of
114 168 870 linked units at an issue price of 310 cents per linked unit
("rights offer linked units"), in the ratio of 123,68926 rights offer linked
units for every 100 Monyetla linked units held at the close of trade on
Friday, 25 May 2007 ("the Monyetla rights offer").
Monyetla linked unitholders, other than Pangbourne, subscribed for 27 359 662
rights offer linked units. Pangbourne subscribed for 26 998 022 rights offer
linked units and in addition renounced 17 905 932 rights offer linked units to
its combined unitholders. This equates to a total acceptance rate of 63.30%.
Pangbourne, as underwriter to the Monyetla rights offer, is required to
subscribe or procure subscriptions for the remaining 41 905 254 rights offer
linked units that were not taken up by Monyetla linked unitholders or their
renouncees.
All excess applications were allocated in full.
2. Results of the Pangbourne rights offer
The directors of Pangbourne hereby announce the results of the rights offer of
43 664 208 linked units at an issue price of 310 cents per linked unit
("Monyetla rights offer linked units"), in the ratio of 16,6062 Monyetla
rights offer linked units for every 100 combined units held in the issued
capital of Pangbourne at the close of trade on Friday, 25 May 2007 ("the
Pangbourne rights offer").
Pangbourne unitholders subscribed for 17 905 932 Monyetla rights offer linked
units, equating to an acceptance rate of 41.01%.
All excess applications were allocated in full.
3. Pangbourne`s subsequent unitholding in Monyetla
Subsequent to the Monyetla and Pangbourne rights offers, Pangbourne will hold
126 032 109 Monyetla linked units, representing 61.04% of the issued capital
of Monyetla.
4. Remaining actions
On the date of this announcement, or as soon as possible thereafter:
- linked unit certificates in respect of rights offer linked units will be
posted to holders of certificated Monyetla linked units who accepted the
Monyetla rights offer;
- linked unit certificates in respect of Monyetla rights offer linked units
will be posted to holders of certificated Pangbourne combined units who
accepted the Pangbourne rights offer;
- Central Securities Depository Participant ("CSDP") or broker accounts will
be credited with the rights offer linked units and debited with any payments
due in respect thereof by holders of dematerialised Monyetla linked units who
accepted the Monyetla rights offer; and
- CSDP or broker accounts will be credited with the Monyetla rights offer
linked units and debited with any payments due in respect thereof by holders
of dematerialised Pangbourne combined units who accepted the Pangbourne rights
offer.
Craighall
26 June 2007
Investment bank and sponsor to Monyetla
Standard Bank
Investment bank and sponsor to Pangbourne
Standard Bank
Corporate law advisors to Monyetla
Cliffe Dekker Inc.
Corporate law advisors to Pangbourne
Edward Nathan Sonnenbergs Inc.
Joint reporting accountants
PricewaterhouseCoopers Advisory Services (Proprietary) Limited
Deloitte & Touche
Underwriter of the Monyetla rights offer
Pangbourne Properties Limited
Corporate law advisors to the underwriter
Edward Nathan Sonnenbergs Inc.
Date: 26/06/2007 17:06:01 Produced by the JSE SENS Department.
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