PANGBOURNE - Results of General Meeting
PANGBOURNE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/002352/06)
Share code: PAP
ISIN: ZAE000005252
("Pangbourne" or "the Company")
Results of General Meeting
Standard Corporate and Merchant Bank is authorised to announce that the
resolutions relating to the ratification of the disposal of a portfolio of
properties to iFour Properties Limited ("iFour") ("the disposal"), proposed at
the general meeting of Pangbourne shareholders and the general meeting of
Pangbourne debenture holders held on Tuesday, 16 September 2003, were passed by
the requisite majorities of shareholders and debenture holders, respectively.
Pangbourne combined unitholders are referred to the iFour announcement published
today regarding the results of the iFour general meetings. In particular, their
attention is drawn to the fact that the requisite majority of shareholders voted
in favour of the resolution waiving the requirement to make a mandatory offer in
terms of Rule 8.1 of the Securities Regulation Code on Takeovers and Mergers.
The constraints imposed on Pangbourne by the Securities Regulation Panel in
respect of its interest in iFour have therefore fallen away and Pangbourne is
now entitled to vote and act on its entire holding of iFour linked units.
The disposal is now conditional only upon the necessary approval being received
from the Competition Commission.
Johannesburg
16 September 2003
Sponsor
Standard Corporate and Merchant Bank
(A division of The Standard Bank
of South Africa Limited)
(Registration number 1962/000738/06)
Date: 16/09/2003 05:16:02 PM Produced by the JSE SENS Department
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