| Thu 3 Feb 2011, 15:55 | | CPL - Capital Property Fund - Salient dates announcement: Capital`s offer to |
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CPL
CPL
CPL - Capital Property Fund - Salient dates announcement: Capital`s offer to
acquire all linked units in Pangbourne Properties Limited
Capital Property Fund
Share Code: CPL
ISIN: ZAE000001731
("Capital")
(A portfolio in Capital Property Trust Scheme, a Collective Investment Scheme in
Property established in terms of the Collective Investment Schemes Control Act,
No 45 of 2002)
Managed by Property Fund Managers Limited
(Registration No. 1980/009531/06)
SALIENT DATES ANNOUNCEMENT: CAPITAL`S OFFER TO ACQUIRE ALL LINKED UNITS IN
PANGBOURNE PROPERTIES LIMITED
Unitholders are referred to the announcements dated 24 November 2010 and 3
December 2010 relating to Capital`s offer to acquire all linked units in
Pangbourne Properties Limited ("Pangbourne") that are not already held by
Capital pursuant to a scheme of arrangement (the "Scheme") proposed by Capital
in terms of section 311 of the Companies Act, 1973 between Pangbourne and its
linked unitholders. The consideration offered by Capital for the Pangbourne
linked units will be 2.38 Capital units for every Pangbourne linked unit held on
Friday 25 March 2011 ("scheme consideration record date"), rounded up or down to
the nearest whole number, save that any Pangbourne linked unitholder holding 500
or less Pangbourne linked units on the scheme consideration record date will be
entitled to elect whether to receive a cash consideration of R20.00 per
Pangbourne linked unit held or 2.38 Capital units for every Pangbourne linked
unit held.
A circular relating to the transaction has been dispatched to Capital
unitholders today, 3 February 2011. The circular includes a notice convening a
general meeting of Capital unitholders to obtain the required unitholder
approvals for the proposed transaction.
The salient dates and times relating to the implementation of the transaction
are as follows:
2011
Circular posted on Thursday, 3 February
Receipt of forms of proxy in respect of the Wednesday, 23 February
general meeting to be received by 10:00 on
The general meeting of Capital unitholders at Friday, 25 February
10:00 on
Results of the general meeting published on SENS Friday, 25 February
on
Anticipated date for receipt of approval from the Friday, 25 February
Competition Authorities
Results of the general meeting published in the Monday, 28 February
press on
Anticipated date on which Capital units will be Friday, 18 March
admitted to listing and on which dealings in
Capital unit entitlements will commence on
Anticipated date of implementation of the Monday, 28 March
transaction (being the operative date of the
scheme)
Anticipated date on which Capital units will be Monday, 28 March
issued on
Note:
All dates and times are local times in South Africa. The above dates and times
are subject to change. Any change will be released on SENS and published in the
press.
3 February 2011
Corporate adviser, legal advisor and sponsor to Capital
Java Capital
Independent expert
PKF Corporate Finance
Reporting accountants and auditors of Capital
PKF Chartered Accountants and Business Advisers
Competition law adviser to Capital and Pangbourne
Vani Chetty Competition Law
Date: 03/02/2011 15:55:01 Produced by the JSE SENS Department.
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