AIP - Adcock Ingram Holdings Limited - Announcement In Respect Of A Proposed
AIP
AIP
AIP - Adcock Ingram Holdings Limited - Announcement In Respect Of A Proposed
Broad-Based Black Economic Empowerment ("Bee") Transaction To Be Undertaken By
Adcock
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2007/016236/06
Share code: AIP
ISIN: ZAE000123436
("Adcock")
ANNOUNCEMENT IN RESPECT OF A PROPOSED BROAD-BASED BLACK ECONOMIC EMPOWERMENT
("BEE") TRANSACTION TO BE UNDERTAKEN BY ADCOCK
Adcock is pleased to announce that it intends pursuing a transaction that will
culminate in the introduction of BEE equity participation in Adcock. Adcock is
committed to transformation through the introduction of broad-based BEE equity
partners into the business to add to the significant progress it has made in the
areas of, inter alia, employment equity, skills development, preferential
procurement and enterprise development. The transaction will be implemented as
part of Adcock`s committed efforts to achieve the objectives set out in the
Department of Trade and Industry`s Codes of Good Practice and will take
cognisance of the future requirements of a Healthcare Charter.
Participants in the transaction will include Adcock`s staff and strategic
shareholders (including broad-based BEE groupings). In this regard, Adcock
intends identifying prospective broad-based BEE equity partners with experience
and expertise in the healthcare industry that can add value and assist Adcock in
achieving its strategic and growth objectives.
Adcock shareholders are referred to the press announcement that will be
published in the Sunday Times and City Press of Sunday, 8 March 2009 and in the
Business Day and The Sowetan on Monday, 9 March 2009 (which will also be
available on its website www.adcock.com) calling for expressions of interest
from black groups as part of the external partner selection process. Further
announcements with regards to progress of the proposed BEE transaction will be
made in due course.
6 March 2009
Midrand
Merchant bank and transaction sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 06/03/2009 17:01:01 Produced by the JSE SENS Department.
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