JSE PAPIVB
INVS
PAPIVB - Investec Bank Limited - Notice Regarding Pangbourne Properties Limited
variable strike scheme of arrangement
INVESTEC BANK LIMITED
PAPIVB ISIN:ZAE000138210
NOTICE REGARDING PANGBOURNE PROPERTIES LIMITED VARIABLE STRIKE SCHEME OF
ARRANGEMENT - ("PAPIVB")
Further to the announcement on 17 March 2011, with regard to the "Scheme with an
Election/Mandatory Elective Event" in respect of Pangbourne Properties Limited
("PAP"), in terms of which Capital Property Trust Scheme ("CPL") shall acquire
all shares in PAP for a consideration of 2.38 CPL shares for every PAP held,
holders of "PAPIVB" Variable Strike Security will receive a cash settlement
amount.
CPL Closing Price on 25 March 2011 = R7.65
Strike Price of PAPIVB = R7.15
Therefore Cash Settlement = R7.65 * 2.38 - R7.15 = R11.06 per Warrant held on
Record Date 1 April 2011.
This amount will automatically accrue to holders via instruction through STRATE
on 4 April 2011.
Despite the expiry of PAPIVB on 24 July 2019, the PAP Variable Strike (PAPIVB)
will be suspended from trading as of 28 March 2011, as a result of PAP being
suspended. PAPIVB will therefore delist on 5 April 2011.
Copies of the offering circular may be obtained from:
Investec Bank Limited
100 Grayston Drive
Sandown
Sandton
2196
For further information contact:
Investec Warrants
Tel.: 0860 103 343
E-mail: warrants@investec.co.za
Internet: www.investec.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 28/03/2011 10:01:43 Produced by the JSE SENS Department.
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