Paraprop - RESULTS OF GENERAL MEETING
PARAMOUNT PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1945/019928/06)
Share code: PRA
ISIN: ZAE000028577
("Paraprop" or "the company")
RESULTS OF GENERAL MEETING
Linked unit holders are advised that the general meeting of Paraprop linked unit
holders was held today to consider the ordinary resolutions relating to:
the issue of 17 537 000 new Paraprop linked units to ABSA Bank Limited in
exchange for a combination of cash and linked units in Growthpoint Properties
Limited ("Growthpoint"); and
the assignment of the asset management agreement governing the management of the
property assets of Paraprop, to Zelpy 1033 (Proprietary) Limited, a company to
be owned jointly by Spire Property Services (Proprietary) Limited and ABSA Bank
Limited.
The aforementioned ordinary resolutions were unanimously passed by the linked
unit holders at the general meeting.
A further announcement will be published on Monday, 1 September 2003, detailing
the pricing of the new Paraprop linked units and the Growthpoint linked units
and the cash to be received by Paraprop.
Cape Town
29 August 2003
Investment bank and sponsor
Nedbank Corporate
Date: 29/08/2003 01:00:00 PM
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