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Latest News: AfroCentric Investment Corporation Ltd. AFRO-C [ACT]

Thu, 24 Jul 2025	Official Announcement [TN]
Afro-C - disposal of ADS and Wellworx The board of directors of AfroCentric announced that the Group has entered into two inter-conditional transactions in terms of which: -AfroCentric Health (RF) (Pty) Ltd. will dispose of the entire issued ordinary shares in and claims against AfroCentric Distribution Services (Pty) Ltd. ("ADS"), together with its wholly owned subsidiaries Tendahealth (Pty) Ltd and Afrocentric Financial Services (Pty) Ltd., to Sanlam Life Insurance Ltd. for an aggregate consideration of R2.8 million payable in cash. -Medscheme Ltd will dispose of the entire issued ordinary shares in and claims against Wellworx (Pty) Ltd. ("Wellworx") to Sanlam Life for an aggregate consideration of R12.2 million payable in cash. All conditions precedent to the Transactions have been fulfilled and the Transactions are wholly unconditional. The Transactions will become effective three business days after the last of the conditions precedent were fulfilled.
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