Afrox/ Bidco/ Ahealth - Joint Announcement From Afrox, Ahealth And Bidco On The
Release Date: 28/07/2004 17:35:04 Code(s): AFX AHH
AFROX/ BIDCO/ AHEALTH - JOINT ANNOUNCEMENT FROM AFROX, AHEALTH AND BIDCO ON THE
EXTENSION OF THE DATE FOR FULFILMENT OF THE COMPETITION TRIBUNAL APPROVAL
CONDITION
African Oxygen Limited
(Incorporated in the Republic of South Africa)
(Registration number 1927/000089/06)
JSE Share code: AFX NSX Share code: AOX
ISIN: ZAE000030920
(`Afrox`)
Business Venture Investments No. 790 (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/002733/07)
(`Bidco`)
AFROX HEALTH
African Healthcare Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/001313/06)
Share code: AHH ISIN: ZAE000022059
(`Ahealth`)
Joint announcement from Afrox, Ahealth and Bidco on the extension of the date
for fulfilment of the competition tribunal approval condition
The Scheme of Arrangement in terms of section 311 of the Companies Act No 61
of 1973, as amended, proposed by Bidco between Ahealth and its shareholders
for the acquisition, by Bidco, of all of the issued share capital of Ahealth
(the `Scheme`), is subject to the fulfilment of the condition, on or before 31
July 2004, that all approvals required from the Competition Commission and
Competition Tribunal for the implementation of the Scheme be obtained (the
`Competition Condition`). (Should the approvals obtained be subject to any
conditions, Afrox is entitled to waive the requirement that any approval be
obtained on an unconditional basis).
The terms of the Scheme provide that Afrox may extend the date of 31 July 2004
to 30 September 2004. Afrox has exercised its right to extend the date for
fulfilment of the Competition Condition to 30 September 2004, and has given
notice of that extension to Bidco and Ahealth.
Afrox has also exercised its right to extend the date in the Merger Agreement
between Afrox, Ahealth and Bidco by which the Competition Condition must be
fulfilled, from 31 July 2004 to 30 September 2004.
The Competition Condition is the only outstanding condition precedent for the
implementation of the Scheme.
Johannesburg
28 July 2004
Sponsor to Afrox
Barnard Jacobs Mellet
Corporate Finance
Sponsor to Ahealth
Nedbank Capital
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