Enaleni - Specpharm transaction
Enaleni Pharmaceuticals Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
(JSE code: ENL ISIN: ZAE000067740)
("Enaleni" or "the company")
Warning: The listing of ordinary shares in the company is on ALTx. Investors
are advised of the risks of investing in a company listed on ALTx. Investors are
advised that the JSE does not guarantee the viability or the success of a
company listed on ALTx. In terms of the Listings Requirements, the company is
obliged to appoint and retain a Designated Adviser, which is required to, inter
alia, attend all board meetings held by the company to ensure that all the
Listings Requirements and applicable regulations are complied with, approve the
Financial Director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a Designated
Adviser, it must make arrangements to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its
securities. If a Designated Adviser is not appointed within 30 days of its
suspension, the company faces the termination of its listing without the
prospect of an appropriate offer to minority shareholders.
SPECPHARM TRANSACTION
Shareholders are advised that, further to the announcement dated 26 September
2005, in terms of which Enaleni announced the acquisition of 100% of the
ordinary shares in and claims against Specpharm (Pty) Limited ("Specpharm") from
Terrence John Lee ("Lee"), Peter Guy Hulett ("Hulett"), Compro Limited and Grant
Suter Thomas and the acquisition from Lee and Hulett of Westbury Group (Pty)
Limited ("Westbury"), Enaleni and the vendors of Specpharm and Westbury have
agreed not to proceed with the acquisition, pending resolution of certain issues
that have arisen, in particular with respect to recent publicity relating to
Specpharm"s and Westbury"s exclusive distribution agreement with Lupin Limited.
Independent Designated Adviser, Investment Bank and Joint Corporate Adviser and
Arranger
Nedbank Capital
Designated Adviser and Joint Corporate Adviser and Arranger
Exchange Sponsors
Attorneys
Deneys Reitz Inc
Johannesburg
21 October 2005
Date: 21/10/2005 05:45:21 PM Produced by the JSE SENS Department
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