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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 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.
