RES - Resilient - Acquisition of securities in Pan
RES
RES
RES - Resilient - Acquisition of securities in Pangbourne Properties Limited
Resilient Property Income Fund Limited
(Incorporated in the Republic of South Africa)
Registration number 2002/016851/06
Share code: RES & ISIN: ZAE000043642
("Resilient" or "the company")
ACQUISITION OF SECURITIES IN PANGBOURNE PROPERTIES LIMITED
Linked unitholders are advised that Resilient has acquired an additional 9 135
779 linked units in Pangbourne Properties Limited ("Pangbourne") for a total
consideration of R150,7 million (the "acquisition").
The Pangbourne securities have been acquired from Investec and the
consideration will be settled by the delivery to Investec of 1 674 893 linked
units in Acucap Properties Limited, 8 589 194 units in Capital Property Fund
and 4 854 762 linked units in Diversified Property Fund Limited.
Settlement of the acquisition will take place in Friday, 21 September 2007.
Pangbourne is a JSE listed property loan stock company and the acquisition has
been entered into for investment and strategic purposes.
The pro forma financial effects of the acquisition on Resilient`s headline
earnings per linked unit and distributions per linked unit for the 6 month
period ended 30 June 2007, and Resilient`s net asset value per linked unit and
net tangible asset value per linked unit as at 30 June 2007 are not material.
Johannesburg
17 September 2007
Sponsor
Java Capital (Proprietary) Limited
Date: 17/09/2007 13:17:01 Produced by the JSE SENS Department.
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