|
|
Pangbourne -- scheme of arrangement
As a result of the "Scheme with an election/mandatory elective event" in respect of Pangbourne Properties Ltd ("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.
The salient dates in respect of the scheme with an election/Mandatory elective event are as follows:
- Last day to trade -- 25 March 2011
- Record Date -- 1 April 2011
- Payment Date -- 4 April 2011
The listing of PAP on the JSE will be suspended as from 28 March 2011 and shall terminate on 5 April 2011. Accordingly, holders of "PAPIVB" variable strike security will receive a cash settlement amount, represented by the number of PAPIVB held on 25 March 2011, multiplied by the difference between the value of the 2.38 CPL's based on the closing price of CPL on 25 March 2011 and the exercise price (strike price) of R7.15 (if a positive number). This amount will automatically accrue to holders via instruction through STRATE on 4 April 2011. The last day to trade in PAPIVB is 25 March 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.
|
|
Click here for original article
|
| |
| |
| Click here for full news archive for this company |
|
| |
|
|
