| Thu 2 Dec 2010, 9:33 | | HSI - Health - Unbundling Finalisation Announcement |
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HSI
HSI
HSI - Health - Unbundling Finalisation Announcement
Health Strategic Investments Limited
(formerly Newshelf 776 (Proprietary) Limited)
(incorporated in the Republic of South Africa)
(Registration number 2005/012471/06)
JSE share code: HSI ISIN: ZAE000146742
("Health" or the "Company")
UNBUNDLING FINALISATION ANNOUNCEMENT
1. INTRODUCTION
Holders of ordinary shares in Health ("Shareholders") are referred to the
announcement by Health released on the Securities Exchange News Service on
Thursday, 28 October 2010 and in the press on Friday, 29 October 2010 and the
circular to Shareholders dated Thursday, 28 October 2010 (the "Circular")
regarding:
- The proposed unbundling by Health of its entire 26.60% shareholding in the
issued share capital of Life Healthcare Group Holdings Limited ("Life
Healthcare") to Shareholders, by way of a distribution in specie in terms
of sections 90 and 228 of the Companies Act, 1973 (Act 61 of 1973), as
amended, and section 46 of the Income Tax Act, 1962 (Act 58 of 1962), as
amended, in the ratio of 1 ordinary share in the issued share capital of
Life Healthcare Group Holdings Limited for every 1 ordinary share in Health
held by a Shareholder at the close of business on Friday, 17 December 2010
(the "Unbundling");
- The subsequent delisting of Health from the exchange operated by the JSE
Limited (the "Delisting"); and
- The subsequent deregistration of Health as a company in terms of section 73
of the Companies Act, 1973 (Act 61 of 1973) (the "Deregistration").
2. CONDITIONS PRECEDENT
Shareholders are advised that all conditions precedent to the Unbundling and the
Delisting have been fulfilled and the Unbundling and the Delisting will be
implemented in accordance with the timetable published in the Circular.
3. ENTITLEMENT RATIO
As stated in the Circular, Shareholders registered as such at the close of
business on Friday, 17 December 2010, will receive 1 Life Healthcare ordinary
share for every 1 Health share held on such date.
The last day to trade in Health shares on the exchange operated by the JSE
Limited in order to participate in the unbundling is Thursday, 9 December 2010.
Health shares will be suspended from trading from Friday, 10 December 2010.
Newlands
2 December 2010
Merchant bank and sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Attorneys
Edward Nathan Sonnenbergs Inc
Date: 02/12/2010 09:33:01 Produced by the JSE SENS Department.
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