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PAP - Pangbourne Properties Limited - Results of the Pangbourne scheme meetings Pangbourne Properties Limited (Registration No. 1987/002352/06) Share Code: PAP ISIN Code: ZAE000005252 ("Pangbourne") Capital Property Fund Share Code: CPL ISIN: ZAE000001731 ("Capital") (A portfolio in Capital Property Trust Scheme, a Collective Investment Scheme in Property established in terms of the Collective Investment Schemes Control Act, No 45 of 2002) Managed by Property Fund Managers Limited (Registration No. 1980/009531/06) RESULTS OF THE PANGBOURNE SCHEME MEETINGS Separate scheme meetings (the "scheme meetings") of Pangbourne linked unitholders in their capacity as shareholders of Pangbourne, in respect of the shares in Pangbourne held by them, and in their capacity as creditors of Pangbourne, in respect of the Pangbourne debentures held by them, were held on Monday, 28 February 2011 for purposes of considering and, if deemed fit, approving the scheme of arrangement proposed by Capital between Pangbourne and its linked unitholders (the "scheme") on the terms set out in the scheme circular dated 3 February 2011. Pangbourne linked unitholders are advised that at the scheme meetings the scheme was approved by the requisite majorities of scheme members in terms of sections 311(2)(a) and 311(2)(b) of the Companies Act, No. 61 of 1973. The Chairman of the scheme meetings is to report back to the South Gauteng High Court, Johannesburg ("the Court") on Tuesday, 8 March 2011 ("the return date") at 10h00 or so soon thereafter as Counsel may be heard. Copies of the Chairman`s report on the scheme meetings will be available to any Pangbourne linked unitholder on request, free of charge, at Pangbourne`s registered office (3rd Floor, Rivonia Village, Rivonia Boulevard, Rivonia, 2191) and at the offices of the Chairman c/o Deneys Reitz Inc. (15 Alice Lane, Sandton, 2196) during normal office hours for one week before the return date. In addition to the sanctioning of the scheme by the Court and the registration by CIPRO of the Court Order, the scheme remains conditional on the merger of Capital and Pangboure being approved by the Competition Authorities. A further announcement or announcements relating to the fulfilment of conditions to implementation of the scheme and, if applicable, the date on which the scheme will be implemented will be released on SENS and published in the press in due course. 28 February 2011 Corporate advisor, legal advisor and sponsor to Capital and sponsor to Pangbourne Java Capital Independent advisor to Pangbourne Grant Thornton Advisory Services Attorneys to the scheme Deneys Reitz Competition law advisor to Capital and Pangbourne Vani Chetty Competition Law Date: 28/02/2011 17:25:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
