ADCOCK INGRAM HOLDINGS LIMITED - Further cautionary announcement
AIP 201312040042A
Further cautionary announcement
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2007/016236/06
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram” or “the Company”)
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on the Stock
Exchange News Service (“SENS”) on or around 17h40 South Africa time
on 3 December 2013 by The Bidvest Group Limited (“Bidvest”) on
behalf of Bidvest and Community Investment Holdings Proprietary
Limited (“CIH”) (together “the Bidvest Consortium”) regarding the
Bidvest Consortium’s legal challenge of the “CFR / Adcock
Transaction”.
Shareholders are advised that the Company is in receipt of an
application (“Bidvest Application”) brought by BB Investment Company
(Pty) Limited, a subsidiary of Bidvest, launching legal proceedings
in relation to the scheme of arrangement (“the Scheme”) contemplated
and set out in the Combined Circular to Adcock Ingram shareholders
dated 18 November 2013, as supplemented.
The Bidvest Consortium is seeking orders inter alia declaring the
Scheme and related transactions void and/or that the general
meetings of Adcock Ingram shareholders scheduled to take place on 18
December 2013 (“General Meetings”) have not been lawfully convened,
and interdicting the implementation of the Scheme and related
transactions. It is noteworthy, however, that the Bidvest Consortium
is not seeking to interdict the holding of, or voting at, the
General Meetings.
The Bidvest Application has not been brought on an urgent basis.
Bidvest has indicated that it intends to have the matter argued and
decided in February 2014.
The Company is in the process of reviewing and taking advice on the
Bidvest Application. Shareholders are therefore advised to continue
exercising caution when dealing in the Company’s securities until a
further announcement is made.
For media enquiries:
Brunswick
Tel: +27 11 502 7300
Carol Roos
+27 72 690 1230
Marina Bidoli
+27 83 253 0478
Midrand
4 December 2013
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
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