NCL - New Clicks Holdings - Acquisition Of Direct Medicines Unconditional
NCL
NCL
NCL - New Clicks Holdings - Acquisition Of Direct Medicines Unconditional
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks" or "the group")
NEW CLICKS ACQUISITION OF DIRECT MEDICINES UNCONDITIONAL
Following the announcement on 11 August 2008 that New Clicks had acquired a
60% stake in leading courier pharmacy business, Direct Medicines, the group
advises shareholders that all conditions precedent, including the approval of
the competition authorities, have been met and the transaction is now
unconditional.
The business has been renamed Clicks Direct Medicines and the effective
date of the transaction is 1 September 2008.
The acquisition will complement the Clicks pharmacy strategy and enable
Clicks to broaden its coverage in the retail pharmacy market and accelerate
its national pharmacy presence. Clicks currently has 168 in-store pharmacies.
Courier pharmacy customers will have the option to collect chronic medication
at Clicks pharmacy stores across the country. All medication for Clicks Direct
Medicines will be procured through UPD, the pharmaceutical wholesaler and
distributor in the New Clicks stable.
New Clicks has the option to acquire the remaining 40% of the business after
three years. These shares are held by empowerment group Vuwa Healthcare (26%)
and management (14%).
Cape Town
18 December 2008
For further information contact
Tier 1 Investor Relations
Tel +27 (21) 702-3102
Investment Bank and Sponsor
Investec Bank Limited
Date: 18/12/2008 14:45:20 Produced by the JSE SENS Department.
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