Paraprop - ISSUE OF LINKED UNITS TO A NEW STRATEGIC SHAREHOLDER
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")
ISSUE OF LINKED UNITS TO A NEW STRATEGIC SHAREHOLDER
Further to the approval by the requisite majority of linked unit holders of 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") on Friday 29 August 2003, details of the pricing of the new
Paraprop linked units and the Growthpoint linked units and the amount of cash to
be received are set out below.
Based on the weighted average traded price of Paraprop and Growthpoint linked
units on the JSE Securities Exchange South Africa for the 90-calendar days
immediately preceding 1 September 2003, being 339.2 cents per linked unit for
Paraprop and 599.1 cents per linked unit for Growthpoint:
4 850 000 Growthpoint linked units will be transferred in exchange for the issue
of 8 566 141 new Paraprop linked units;
a further 8 970 859 new Paraprop linked units will be issued for a cash amount
of R30 429 154.
Cape Town
1 September 2003
Investment bank and sponsor
Nedbank Corporate
Date: 01/09/2003 03:30:05 PM Supplied by www.sharenet.co.za
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