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Makalani Holdings Limited - Makalani to provide funding for Nampak and Life
Healthcare BEE transactions
Makalani Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/000726/06)
Ordinary share code: MKL
ISIN: ZAE000066700
("Makalani")
Makalani to provide funding for Nampak and Life Healthcare BEE transactions
1. Introduction
Unitholders of Makalani ("unitholders") are notified that Makalani will
subscribe alongside other financiers for R44 million of subordinated preference
shares in Red Coral Investments 23 (Proprietary) Limited ("Red Coral") to enable
Red Coral to fund its acquisition of a 5% shareholding in Nampak Limited
("Nampak") ("the Nampak investment").
Makalani has also reached agreement with Rand Merchant Bank, a division of
FirstRand Bank Limited ("RMB") to acquire R50 million of the senior and
mezzanine loans provided to Life Healthcare Group (Proprietary) Limited"s ("Life
Healthcare") Black Economic Empowerment ("BEE") transaction ("the Life
Healthcare investment").
2. The Nampak investment
Makalani will subscribe alongside other financiers for R44 million of
subordinated preference shares in Red Coral to enable Red Coral to partly fund
its acquisition of a 5% shareholding in Nampak. Red Coral"s acquisition is part
of a larger BEE transaction involving an acquisition of 10% of Nampak"s shares.
Red Coral is a special purpose vehicle owned by a consortium of broad based BEE
shareholders led by Aka Capital (Proprietary) Limited. Nampak, listed on JSE
Limited ("JSE"), is Africa"s largest and most diversified packaging manufacturer
and also has operations in several countries in Europe.
3. The Life Healthcare investment
Makalani will acquire from RMB a total of R50 million of the senior and
mezzanine loans provided to Life Healthcare.
Life Healthcare (previously Afrox Healthcare Limited) was acquired and delisted
from the JSE by a company jointly controlled by Brimstone Investment Corporation
Limited and Mvelaphanda Strategic Investments (Proprietary) Limited in March
2005.
Life Healthcare is one of the largest private hospital operations outside the
United States. Life Healthcare"s business is acute hospital care and comprises
one of the most geographic spreads of acute care hospitals and same day surgical
centres in South Africa.
4. Quarterly update to unitholders
In terms section 15.4 (f) of the JSE Listings Requirements, Makalani is required
to disclose its portfolio to unitholders on a quarterly basis until such time as
at least 50% of the portfolio has been established in investments other than
cash or short dated securities. Makalani will make an announcement for the
quarter ending 30 September 2005 on or before 31 October 2005.
Sandton
29 September 2005
Merchant Bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 29/09/2005 04:58:16 PM Produced by the JSE SENS Department
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