Aspen Pharmacare Holdings Limited - Announcement
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1985/002935/06)
(Share code APN ISIN: number ZAE000066692)
("Aspen")
ANNOUNCEMENT
Aspen Pharmacare Holdings Limited ("Aspen") is pleased to announce that its
subsidiary company, Pharmacare Limited ("Pharmacare"), which trades as Aspen
Pharmacare, has settled the long-running dispute with Tibbett & Britten Africa
(Pty) Limited (now owned by Exel plc ("Exel") which has previously been reported
to shareholders. The Tibbett & Britten claim for R39 million in additional
distribution fees has been withdrawn, and the previously reported contingent
liability in this regard is therefore eliminated.
In other agreements reached, Pharmacare has entered into a new five year
arrangement with Exel subsidiary, Kinesis Logistics (Pty) Limited for the
performance of Pharmacare"s fine distribution whilst Pharmacare will take
control of its own bulk distribution which was previously performed by Exel.
7 November 2005
Sponsor: Investec Bank Ltd
Date: 07/11/2005 02:43:16 PM Produced by the JSE SENS Department
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