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JSE
INVS
PAPIVB - Investec Bank Limited - Notice regarding Pangbourne Properties Limited
variable strike scheme of arrangement
INVESTEC BANK LIMITED
NOTICE REGARDING PANGBOURNE PROPERTIES LIMITED VARIABLE STRIKE SCHEME OF
ARRANGEMENT - ("PAPIVB")
Share Strike Expiry Date Conv. Call/ Style Issue JSE Code
Price Ratio Put Size
Pangbourne R7.15 24/07/2019 1:1 Put European 258,000 PAPIVB
Properties ZAE00013
Limited 8210
As a result of the "Scheme with an Election/Mandatory Elective Event" in respect
of Pangbourne Properties Limited ("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.
Copies of the offering circular may be obtained from:
Investec Bank Limited
100 Grayston Drive
Sandown
Sandton
2196
For further information contact:
Investec Warrants
Tel.: 0860 103 343
E-mail: warrants@investec.co.za
Internet: www.investec.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 17/03/2011 16:50:12 Produced by the JSE SENS Department.
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