BIO Further announcement regarding disposal of Mus
BIO 201308200036A
Further announcement regarding disposal of Muscle Science, the notice of montion and further cautionary announcement
BIOSCIENCE BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
(JSE code: BIO ISIN: ZAE000115036)
(BioScience or the Company)
FURTHER ANNOUNCEMENT REGARDING DISPOSAL OF MUSCLE SCIENCE, THE
NOTICE OF MOTION AND FURTHER CAUTIONARY ANNOUNCEMENT
Update on Disposal of Muscle Science
Further to:
- the announcements released on SENS on 30 April, 7 June and 19 July 2013 in respect
of negotiations to dispose of the Muscle Science Brand and related sub-brands and
trade-marks or BioSciences subsidiary Aldabri 53 (Pty) Limited (Aldabri), which
holds and trades Muscle Science, to Akacia Healthcare (Pty) Ltd (Akacia) (the
Sale Transaction), and
- the announcements released on 31 July and 6 August 2013 in respect of the notice of
motion for the intention by Dr AP Ferreira to make application for the winding-up of
BioScience (the Motion),
shareholders and creditors are advised that the board of BioScience is considering the
impact of the Motion on the Sale Transaction and engaging all best efforts to secure
the best outcome for creditors and shareholders.
To protect their interests Akacia have perfected their security over the assets of
Aldabri. These assets are the subject of the Sale Transaction and Akacia have indicated
their continued commitment to the Sale Transaction and the offer of compromise to creditors
of Aldabri.
Renewal of cautionary announcement
Shareholders are advised to continue exercising caution when dealing in the companys
shares until the financial effects had been announced.
20 August 2013
Johannesburg
Designated Adviser
Exchange Sponsors
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