Aspen Pharmacare Holdings Limited - Sanctioning by the high court of the Aspen
scheme of arrangement
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1985/002935/06)
(Share code APN ISIN: ZAE000023586)
(`Aspen`)
SANCTIONING BY THE HIGH COURT OF THE ASPEN SCHEME OF ARRANGEMENT
1. SANCTIONING OF THE ASPEN SCHEME OF ARRANGEMENT
Further to the announcement dated 30 May 2005, shareholders are advised that the
scheme of arrangement (`the scheme`) in terms of section 311 of the Companies
Act, 1973 (Act 61 of 1973), as amended, proposed by Aspen between itself,
Pharmacare Limited (`Pharmacare`) and the shareholders of Aspen (other than
Pharmacare, Ceppwawu Pharmaceuticals Investments (Pty) Limited, Ceppwawu
Pharmaceuticals Investments 2 (Pty) Limited, Imithi Investments (Pty) Limited
and the Industrial Development Corporation of South Africa Limited), was
sanctioned by the High Court of South Africa (Witwatersrand Local Division) on
Tuesday, 7 June 2005.
2. CONDITIONS PRECEDENT
The only remaining condition precedent to the Imithi transaction and the scheme
is the registration by the Registrar of Companies of the Order of Court
sanctioning the scheme.
3. FURTHER ANNOUNCEMENT
A further announcement regarding the registration of the Order of Court by the
Registrar of Companies and the final salient dates and times of the scheme will
be made in due course.
Sandton
7 June 2005
Investment bank to Aspen Sponsor to Aspen
Investec Bank Limited Investec Bank Limited
Transaction advisor to Imithi Legal advisor to Aspen
Andisa Capital Werksmans Inc.
Funder to Imithi Legal advisor to Imithi
IDC Bowman Gilfillan Attorneys
Independent professional Reporting accountants and auditors
expert PricewaterhouseCoopers Inc.
EY Corporate Finance (Pty)
Limited
Date: 07/06/2005 05:00:15 PM
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