Aspen/Peu - Announcement
Aspen Pharmacare Holdings Peu Investment Group (Pty)
Limited Limited
(Incorporated in the Republic (Incorporated in the Republic
of South Africa) of South Africa)
(Registration number (Registration number
1987/003382/06) 1996/003899/07)
(Share code: APN) ("Peu")
(ISIN Code: ZAE000023586)
("Aspen" or "the company")
Acquisition by Peu Health (Proprietary) Limited ("Peu Health") of an equity
interest in Aspen
Investec Bank Limited is authorised to announce that Peu Health, a wholly owned
subsidiary of Peu, has acquired 21 300 000 ordinary shares in Aspen, being
approximately 5,72% of the Aspen ordinary shares in issue, from certain existing
Aspen shareholders.
Peu is a wholly black owned and managed investment holding company. Since its
incorporation in 1996 Peu has developed a strong track record in terms of its
tangible contribution, at a strategic and operational level, to the growth and
development of its underlying strategic investments that include Capital
Alliance Holdings Limited and Fleet Africa (Proprietary) Limited (formerly Super
Fleet (Proprietary) Limited). Peu Health has been incorporated as a wholly owned
subsidiary of Peu. However, it is intended that Peu will dilute its interest in
Peu Health in order to accommodate the Instika Enablement Trust, a broad-based
black economic empowerment entity, as a significant shareholder of Peu Health.
Aspen recognises the importance of black economic empowerment in South Africa
and is committed to the continued transformation of Aspen at all levels of the
business, including ownership. The process of transformation of Aspen at
ownership levels commenced in January 2002 when CEPPWAWU Pharmaceutical
Investments (Proprietary) Limited ("CEPPWAWU"), a wholly-owned subsidiary of
CEPPWAWU Investments (Proprietary) Limited, acquired approximately 7,24% of the
Aspen ordinary shares in issue.
CEPPWAWU remains a key shareholder of Aspen and will work with Peu Health to
continue to drive transformation within Aspen and assist the company in terms of
efforts to enhance the business of Aspen. Accordingly Aspen welcomes the
introduction of Peu Health as a shareholder of Aspen and believes that Peu
Health has the required skills and experience to make a meaningful contribution
to the continued growth and development of the business of Aspen.
Woodmead
13 December 2002
Merchant bank Attorneys to Peu Sponsor to Aspen
Investec Corporate Finance Edward Nathan Investec Securities
Date: 13/12/2002 04:35:18 PM Produced by the JSE SENS Department
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