APN
APN
APN - Aspen Pharmacare Holdings Limited - Renewal of detailed cautionary
announcement
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/002935/06)
Share code: APN ISIN: ZAE000066692
("Aspen")
Renewal of detailed cautionary announcement
Aspen shareholders are referred to the detailed cautionary announcement dated 21
May 2010 and are advised that Aspen Global Incorporated ("Aspen Global") has
submitted to Sigma Pharmaceuticals Limited ("Sigma"), a confirmed offer to
acquire the whole of Sigma (the "Transaction") for cash at a price per Sigma
share of A$0.55 (approx. ZAR3.58)1 (the "Offer") which implies an equity value
of A$648 million (approx. ZAR4 219 million)1 based on 1,178.6 million Sigma
shares outstanding.
Aspen has proposed that the Transaction be executed via a scheme of arrangement.
The Offer is also subject to numerous conditions precedent, including the
satisfactory completion by Aspen of a final due diligence investigation, the
conclusion of a scheme implementation agreement and fulfillment of all necessary
regulatory approvals.
Aspen shareholders are referred to the announcement released today by Sigma,
which is available at the ASX website www.asx.com.au.
Accordingly, Aspen shareholders are advised to continue to exercise caution when
dealing in Aspen shares until a further announcement is made.
1 Based on AUD/ZAR exchange rate of 0.1536 as at 7 July 2010 (Source:
Bloomberg).
Woodmead
7 July 2010
Financial advisor and Sponsor
Investec Corporate Finance and Investec Bank (Australia) Limited
Date: 07/07/2010 08:59:36 Produced by the JSE SENS Department.
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