| Tue 26 Oct 2004, 18:02 | | Further joint announcement |
|
Afrox/Ahealth/Bidco - Further joint announcement from Afrox, Ahealth and Bidco
African Oxygen Limited Business Venture Investments No. 790
(Incorporated in the Republic of South (Proprietary) Limited
Africa) (Incorporated in the Republic of
(Registration number 1927/000089/06) South Africa)
JSE Share code: AFX (Registration number: 2003/002733/07)
NSX Share code: AOX (`Bidco`)
ISIN: ZAE000030920
(`Afrox`)
Afrox Healthcare Limited
(Incorporated in the Republic of South
Africa)
(Registration number: 1985/001313/06)
Share code: AHH
ISIN: ZAE000022059
(`Ahealth`)
FURTHER JOINT ANNOUNCEMENT FROM AFROX, AHEALTH AND BIDCO IN RESPECT OF THE COURT
APPLICATION SERVED ON THEM ON 14 OCTOBER 2004
On 15 October 2004, shareholders were advised, in a joint announcement of Afrox,
Ahealth and Bidco, that on 14 October 2004 a court application (`the
Application`) was served on Afrox, Ahealth and Bidco, inter alia, by Johannes
Paulus Franciscus Dalmeyr and Wendy Counihan. The Application has been made 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 have agreed to
extend the date for fulfilment of the Competition Condition, and the date of the
Merger and Co-operation Agreement concluded amongst them on 14 November 2003,
from 30 September 2004 to 31 December 2004.
Shareholders are now advised that Afrox, Ahealth and Bidco have filed a notice
of intention to oppose the Application.
Johannesburg
26 October 2004
Sponsor to Afrox
Barnard Jacobs Mellet
Corporate Finance
Sponsor to Ahealth
Nedbank Capital
