AIP - Adcock Ingram - Renewal of cautionary announcement and additional
AIP
AIP
AIP - Adcock Ingram - Renewal of cautionary announcement and additional
cautionary announcement
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2007/016236/06
Share code: AIP
ISIN: ZAE000123436
("Adcock Ingram" or "the Company")
Renewal of cautionary announcement and additional cautionary announcement
1. Renewal of cautionary announcement
Initiation of the call option process by Baxter Healthcare SA ("Baxter") in
respect of Adcock Ingram Critical Care (Pty) Limited ("AICC")
Shareholders are referred to the cautionary announcement dated 8 February
2010 and the renewal of cautionary announcements dated 23 March 2010 and 7
May 2010 relating to the formal notification received by the Company from
Baxter of its intention to initiate the call option process as set out in
the agreement between, inter alia, Baxter, Adcock Ingram and AICC dated 17
July 2008.
Shareholders are advised that:
i) the terms of the Baxter and Adcock Ingram shareholders` agreement as
contemplated in terms of the Option Agreement, have been agreed in
principle (subject to (ii) below); and
ii) the only issue that remains outstanding is the independent expert
valuation to determine the fair market value of AICC.
Further announcements will be published in due course.
2. Cautionary announcement
Shareholders are advised that the Company has entered into negotiations
relating to a marketing and distribution arrangement. The directors of
Adcock Ingram are confident that the successful conclusion of these
negotiations will have a beneficial effect on the future direction of
Adcock Ingram.
Accordingly, shareholders are advised to continue exercising caution when
dealing in Adcock Ingram securities until further announcements are made.
Midrand
21 June 2010
Financial adviser and Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 21/06/2010 17:17:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
