| Tue 20 May 2008, 14:36 | | Siyathenga - Results of the court hearing |
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PAP SYA
PAP SYA
PAP/SYA - Pangbourne /Siyathenga - Results of the court hearing to sanction the
scheme
Pangbourne Properties Limited
(Registration No. 1987/002352/06)
Share Code: PAP
ISIN Code: ZAE000005252
("Pangbourne")
Siyathenga Property Fund Limited
(Registration No. 2004/005198/06)
Share Code: SYA
ISIN Code: ZAE000069530
("Siyathenga")
RESULTS OF THE COURT HEARING TO SANCTION THE SCHEME
Siyathenga linked unitholders are advised that the High Court of South Africa
today sanctioned the scheme of arrangement ("the scheme") proposed by Pangbourne
between Siyathenga and its linked unitholders (other than Pangbourne).
It is anticipated that a copy of the Order of Court sanctioning the scheme will
be registered with the Registrar of Companies on 21 May 2008. All the conditions
precedent to the scheme will be fulfilled upon such registration. An
announcement confirming the registration will be released on SENS as soon as
possible after such registration occurs.
The salient dates regarding the implementation of the scheme are as follows:
2008
Register Order of Court Wednesday, 21 May
Results of court hearing published in the press Wednesday, 21 May
Final date Wednesday, 21 May
Last day to trade in order to participate in the
scheme consideration (see note 3 below) Friday, 30 May
Suspension of listing of Siyathenga linked units Monday, 2 June
Scheme consideration record date, being the date on
which scheme participants must be recorded in the
register to receive the scheme consideration, by
close of trading Friday, 6 June
Operative date of the scheme Monday, 9 June
Scheme consideration posted to certificated scheme
participants (if documents of title are received on
or prior to 12:00 on the scheme consideration
record date) on or about Monday, 9 June
Dematerialised scheme participants` accounts (held
at their CSDP or broker) updated Monday, 9 June
Termination of listing of Siyathenga linked units Monday, 9 June
Notes:
1. All dates and times may be changed by mutual agreement between Siyathenga
and Pangbourne and/or may be subject to certain regulatory approvals. Any
change will be released on SENS and published in the press.
2. All times given are local times in South Africa.
3. Siyathenga linked unit certificates may not be dematerialised after Friday,
30 May 2008.
20 May 2008
Corporate advisor, legal advisor and sponsor to Pangbourne and transaction
sponsor to Siyathenga
Java Capital (Proprietary) Limited
Sponsor to Siyathenga
Deloitte & Touche Sponsor Services (Proprietary) Limited
Attorneys to the scheme
Fluxmans Inc.
Date: 20/05/2008 14:04:01 Produced by the JSE SENS Department.
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