THE BIDVEST GROUP LIMITED - Legal proceedings announcement
BVT 201312030079A
Legal proceedings announcement
The Bidvest Group Limited Community Investment Holdings Proprietary
Incorporated in the Republic of South Africa Limited
(Registration number 1946/021180/06) Incorporated in the Republic of South Africa
Share Code: BVT ISIN: ZAE000117321 (Registration number 1995/007296/07)
(“Bidvest”) (“CIH”)
Legal proceedings relating to CFR Pharmaceuticals S.A. (“CFR”) /Adcock Ingram Holdings Limited
(“Adcock”) transaction
The announcement released on SENS by Bidvest on December 2 2013 refers, in terms of which the
Bidvest/CIH (“Consortium”) were advised by its legal team to launch legal proceedings to challenge
compliance with certain legal and regulatory aspects of the CFR/Adcock Transaction.
In this regard, Bidvest advises that is has launched proceedings in the South Gauteng High Court
(“High Court) in relation to the scheme of arrangement proposed by Adcock in its circular to
shareholders dated 18 November 2013 (“the Scheme”).
Bidvest is seeking various declaratory orders from the High Court which include:-
1. declaring the Scheme and the transactions for the implementation of the Scheme void in terms of
section 44(5) of the Companies Act, 71 of 2008 (“the Act”);
2. declaring that, the combined general meeting and the ordinary general meeting convened by
Adcock have not been lawfully convened; and
3. interdicting Adcock and the other respondents to the High Court proceedings from implementing
the Scheme and giving effect to the transactions that are required for the implementation of the
Scheme
Johannesburg
December 3 2013
Sponsor
Investec Bank Limited
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