| Tue 3 Nov 2009, 10:49 | | APN - Aspen - Completion Of Multiple Strategic Inter - Dependant Transactions |
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APN
APN
APN - Aspen - Completion Of Multiple Strategic Inter - Dependant Transactions
Between Aspen And The Glaxosmithkline Group ("GSK")
ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
("Aspen")
Completion of multiple strategic inter - dependant transactions between Aspen
and the GlaxoSmithKline Group ("GSK")
Further to the announcement issued on SENS on 12 May 2009, Aspen wishes to
update shareholders on the status of completion of the multiple strategic inter
- dependant transactions entered into between Aspen and GSK.
The conditions precedent to the agreement have been fulfilled.
The Completion Date for the transaction will be 30 November 2009.
Due to regulatory requirements, Aspen and GSK have agreed that-
- the transaction in terms of which Aspen`s wholly-owned subsidiary, Aspen
Global, will acquire eight specialist products from GSK will only be implemented
in respect of Tanzania, Namibia and Zimbabwe upon approval from the Tanzanian,
Namibian and Zimbabwean authorities, respectively.
- the Sub-Saharan collaboration transaction will only be implemented in respect
of Tanzania, Namibia and Zimbabwe upon approval from the Tanzanian, Namibian and
Zimbabwean authorities, respectively.
The portion of the purchase consideration payable to GSK for these territories
is negligible and consequently there will be no adjustment to the purchase
consideration as communicated to shareholders in the SENS announcement issued on
12 May 2009. It is expected that the consideration shares, comprising of 68.5
million ordinary shares in the share capital of Aspen, will be listed and issued
to GSK on 30 November 2009.
3 November 2009
Sponsor:
Investec Bank Limited
Date: 03/11/2009 10:49:01 Produced by the JSE SENS Department.
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