PAP - Pangbourne Properties Limited - Capital Property Fund`s Proposal to
PAP
PAP
PAP - Pangbourne Properties Limited - Capital Property Fund`s Proposal to
acquire all Pangbourne linked units: update and withdrawal of cautionary
announcement
Pangbourne Properties Limited
(Registration No.1987/002352/06)
Share Code: PAP
ISIN: ZAE000005252
("Pangbourne")
CAPITAL PROPERTY FUND`S PROPOSAL TO ACQUIRE ALL PANGBOURNE LINKED UNITS: UPDATE
AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
INTRODUCTION
Pangbourne unitholders are referred to the joint announcement in relation to the
proposal by Capital Property Fund (Share Code CPL) ("Capital") to offer to
acquire all Pangbourne linked units in issue that are not already held by
Capital ("the offer"), as released on SENS on 24 November 2010.
APPOINTMENT OF INDEPENDENT ADVISOR
The Pangbourne board have appointed Grant Thornton Advisory Services as
independent advisor to provide the board with external advice on the offer as
required in terms of the SRP Code.
FINANCIAL EFFECTS OF THE OFFER
The pro forma financial effects of the offer on Capital were set out in an
announcement released by Capital on SENS on 3 December 2010.
FURTHER DOCUMENTATION AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
It is anticipated that the circular containing full details of the offer, the
scheme and notice of the scheme meeting will be posted to Pangbourne unitholders
during the first half of February 2011.
Caution is no longer required to be exercised by Pangbourne unitholders when
dealing in their securities.
10 December 2010
Sponsor to Pangbourne
Java Capital Trustees and Sponsors (Proprietary) Limited
Independent Advisor to Pangbourne
Grant Thornton Advisory Services
Date: 10/12/2010 12:08:03 Produced by the JSE SENS Department.
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