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Afrox Healthcare/African Oxygen Limited - Update on the Competition Tribunal
hearing
Afrox Healthcare Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1985/001313/06)
Share code: AHH
ISIN: ZAE000022059
(`Ahealth`)
Business Venture Investments No. 790 (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/07)
(`Bidco`)
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`)
JOINT ANNOUNCEMENT FROM AHEALTH, BIDCO AND AFROX ON A REVISION TO THE DATES FOR
THE COMPETITION TRIBUNAL HEARINGS
As announced on 21 July 2004, the Competition Tribunal (the `Tribunal`) was
scheduled to resume the hearing in respect of the merger of Bidco and Ahealth,
pursuant to which Bidco will acquire all of the shares in Ahealth (`the
Merger`), on 15 September 2004.
At a meeting on 8 September 2004, convened by the Tribunal, the Tribunal
expressed the view that further days, in addition to the period set down for the
hearing in September, would be required to complete the hearing. In addition,
Bidco advised the Tribunal that it intended filing further witness statements
and certain revised documents. Accordingly, it was held by the Tribunal that a
further period of 15 (fifteen) consecutive days should be set aside for the
hearing of the Merger, with 2 (two) additional days to be set aside for final
argument by the parties.
The Tribunal and the parties determined that the first available uninterrupted
period of 15 (fifteen) consecutive days would commence on 24 January 2005.
Accordingly, the Tribunal held that the hearing on the Merger will resume on 24
January 2005 and continue until 11 February 2005. The dates of 14 and 15 March
2005 have been set aside for closing argument.
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 implementation of the Merger, is subject to the fulfilment of the condition,
on or before 30 September 2004, that all approvals required from the Competition
Commission and Tribunal for the implementation of the scheme be obtained (`the
Competition Condition`). Bidco, Ahealth and Afrox are currently engaged in
discussions regarding the extension of the date for fulfilment of the
Competition Condition. A further announcement on the outcome of these
discussions will be made.
Johannesburg
10 September 2004
Sponsor to Afrox
Barnard Jacobs Mellet
Corporate Finance
Sponsor to Ahealth
NEDBANK CAPITAL
Date: 10/09/2004 05:04:55 PM Produced by the JSE SENS Department
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