Pangbourne/Calulo - Pangbourne offer to Calulo Lin
PAP CLO
PAP CLO
Pangbourne/Calulo - Pangbourne offer to Calulo Linked Unitholders
Pangbourne Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/002352/06)
Share Code: PAP & ISIN: ZAE000005252
("Pangbourne")
Calulo Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/006274/06)
Share Code: CLO & ISIN: ZAE000060711
("Calulo")
PANGBOURNE OFFER TO CALULO LINKED UNITHOLDERS
In an announcement dated 19 July 2006 ("the announcement"), Pangbourne
published the salient details of its proposed acquisition of a 40.6%
interest in Calulo"s issued linked units, subject only to the approval of
the South African Competition Authorities, ("the Matemeku acquisition")
and stated that, as a consequence of the Matemeku acquisition, it would
be obliged to extend an offer to Calulo minority linked unitholders in
terms of the Securities Regulation Code on Takeovers and Mergers ("the
Code")("the offer").
The announcement further stated that Pangbourne had made application to
the Securities Regulation Panel ("the SRP") for dispensation from Rule
27.1 of the Code regarding the period within which an offer document is
to be posted and called for objections from Calulo minority linked
unitholders to such application.
On the basis that no objections were received, Calulo linked unitholders
are advised that the SRP has granted such dispensation and that further
details in respect of the offer will be published shortly after receipt
of the approval of the South African Competition Authorities, which is
expected to be given by the end of September.
Accordingly, linked unitholders of Pangbourne are advised that caution is
no longer required to be exercised when dealing in their linked units.
Craighall
4 August 2006
Sponsor
Standard Bank
Date: 04/08/2006 05:43:03 PM Produced by the JSE SENS Department
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