DSY - Discovery Holdings Limited - Fulfilment of conditions precedent on the
DSY
DSY
DSY - Discovery Holdings Limited - Fulfilment of conditions precedent on the
acquisition of Standard Life Healthcare
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
ISIN: ZAE000022331
JSE share code: DSY
("Discovery" or "Company")
FULFILMENT OF CONDITIONS PRECEDENT ON THE ACQUISITION OF STANDARD LIFE
HEALTHCARE
Shareholders are referred to the announcement released on SENS on 11 May 2010,
wherein shareholders were advised that Discovery had entered into an agreement
to acquire the entire share capital of Standard Life Healthcare, a wholly-owned
subsidiary of the Standard Life plc, for R1.56bn (GBP138m). The investment in
Standard Life Healthcare was further contributed to PruHealth Holdings as a
capital investment in order to increase Discovery`s interest in both PruHealth
and PruProtect from 50% to 75% ("the Transaction"). PruHealth Holdings is the
holding company of PruHealth and PruProtect, the joint ventures between
Discovery and Prudential Assurance Company of the United Kingdom.
Shareholders are advised that the conditions precedent to the Transaction have
been fulfilled. Accordingly, effective from 1 August 2010, Standard Life
Healthcare will be a wholly-owned subsidiary of PruHealth Holdings Limited and
Discovery`s interest in this enlarged group will increase from 50% to 75%.
Johannesburg
30 July 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 30/07/2010 15:20:01 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
