Afrox/ Ahealth/ Bidco - Joint announcement in respect of Court Application
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`)
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`)
JOINT ANNOUNCEMENT FROM AFROX, AHEALTH AND BIDCO IN RESPECT OF COURT APPLICATION
SERVED ON THEM ON 14 OCTOBER 2004 (`THE APPLICATION`)
Shareholders are hereby advised that during the afternoon of 14 October 2004 a
Court Application was filed, inter alia, on Afrox, Ahealth and Bidco, in terms
of which Johannes Paulus Franciscus Dalmeyr and Wendy Counihan will make
application to the High Court of South Africa (Witwatersrand Local Division)
(`the Court`) for an order declaring, inter alia, that 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, which was sanctioned by
the Court on 6 April 2004, (`the scheme`) and pursuant to which Bidco is to
acquire all the shares in Ahealth, has lapsed as a result of the non-fulfilment,
on or before 30 September 2004, of the remaining outstanding condition precedent
to which the scheme is subject, being the condition precedent that the
Competition Tribunal grants its approval to the implementation of the scheme
(`Competition Condition`). As announced on 30 September 2004, Afrox, Ahealth and
Bidco had agreed in writing to extend the date for fulfilment of the Competition
Condition from 30 September 2004 to 31 December 2004.
Afrox, Ahealth and Bidco are considering the Application and shareholders will
be advised, in due course, on how they intend responding to the Application.
Johannesburg
15 October 2004
Sponsor to Afrox
Barnard Jacobs Mellet
Corporate Finance
Sponsor to Ahealth
Nedbank Capital
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