|
Afrox / Ahealth / Brimstone / Mvelaphanda / Bidco - Joint Announcement
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)
JSE Share code: AHH
ISIN: ZAE000022059
(`Ahealth`)
Brimstone Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1995/010442/06)
Share Code: BRT
ISIN: ZAE000015277
Share Code: BRN
ISIN: ZAE000015285
(`Brimstone`)
Mvelaphanda Strategic Investments (Proprietary) Limited, a subsidiary of
Mvelaphanda Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/007485/07)
(`Mvelaphanda`)
Business Venture Investments No. 790 (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/07)
(`Bidco`)
JOINT ANNOUNCEMENT BY AFROX, AHEALTH, BIDCO, BRIMSTONE AND MVELAPHANDA IN
RESPECT OF AN APPLICATION BY COMMUNITY HEALTHCARE HOLDINGS (PROPRIETARY) LIMITED
(`COMMUNITY HEALTHCARE`) AND CORNUCOPIA (PROPRIETARY) LIMITED (`CORNUCOPIA`) TO
REVIEW AND AN APPLICATION TO SUSPEND THE ORDER OF THE COMPETITION TRIBUNAL ON 2
MARCH 2005
As announced to shareholders on 3 March 2005, the Scheme of Arrangement proposed
by Bidco in terms of section 311 of the Companies Act, 61 of 1973, as amended,
between Ahealth and its shareholders for the acquisition by Bidco of all of the
issued share capital of Ahealth (`the Shareholder Scheme`), which, if
implemented, will result in the acquisition by Bidco of the entire issued share
capital of Ahealth (`the Transaction`), has become unconditional.
Shareholders are now advised that Community Healthcare and Cornucopia have noted
a review to the Competition Appeal Court in respect of the decision of the
Competition Tribunal on 2 March 2005 to approve, with conditions, the
Transaction. The review has not yet been set down for hearing.
Shareholders are further advised that Community Healthcare and Cornucopia have
also applied to the Competition Appeal Court for the suspension of the following
decisions of the Competition Tribunal:
- the decisions of the Competition Tribunal on 8 February 2005 not to permit
an intervention by Community Healthcare and Cornucopia in the merger hearing in
respect of the Transaction which took place on 10 and 11 February 2005, and not
to postpone such hearing; and
- the decision of the Competition Tribunal on 2 March 2005 to approve the
Transaction.
The application for an order suspending the operation and execution of the above
decisions of the Competition Tribunal has been set down for hearing on Friday,
11 March 2005.
Shareholders are further advised that unless Cornucopia and Community Healthcare
are successful in their application, the Shareholder Scheme is capable of
implementation in accordance with its terms.
Johannesburg
10 March 2005
Financial Advisor to Bidco Legal Adviser to Afrox
Rothschild Bowman Gilfillan Inc
Financial Adviser to Afrox Competition Law Adviser to Afrox,
JPMorgan Ahealth and Bidco
Edward Nathan (Pty) Ltd
Sponsor to Afrox
Barnard Jacobs Mellet Legal Adviser to Bidco
Corporate Finance Hofmeyr Herbstein & Gihwala Inc
Edward Nathan (Pty) Ltd
Sponsor to Ahealth
Nedbank Capital
Date: 10/03/2005 03:54:09 PM
Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
