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PAPIVB - Investec Bank Limited - Notice Regarding Pangbourne Properties Limited

Release Date: 28/03/2011 10:01
Code(s): JSE PAPIVB
Wrap Text

PAPIVB - Investec Bank Limited - Notice Regarding Pangbourne Properties Limited variable strike scheme of arrangement INVESTEC BANK LIMITED PAPIVB ISIN:ZAE000138210 NOTICE REGARDING PANGBOURNE PROPERTIES LIMITED VARIABLE STRIKE SCHEME OF ARRANGEMENT - ("PAPIVB") Further to the announcement on 17 March 2011, with regard to 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, holders of "PAPIVB" Variable Strike Security will receive a cash settlement amount. CPL Closing Price on 25 March 2011 = R7.65 Strike Price of PAPIVB = R7.15 Therefore Cash Settlement = R7.65 * 2.38 - R7.15 = R11.06 per Warrant held on Record Date 1 April 2011. This amount will automatically accrue to holders via instruction through STRATE on 4 April 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: 28/03/2011 10:01:43 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.

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