In terms of one of the transactions, property loan stock giant Pangbourne Properties got a 49,9% stake in iFour. The deal would see Pangbourne selling to iFour about R250m worth of properties in return for about 50-million linked units in iFour, of which 7,5-million would be placed in other institutions.

Although the 49,9% stake would have normally triggered a takeover bid in terms of the Securities Regulation Panel, Pangbourne obtained permission not to have to make an offer.

Pangbourne also announced that the requisite majority of shareholders voted in favour of the resolution waiving the requirement to make a mandatory offer.