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WLL
WLL
Wellco Health Limited - BEE Partner for Wellco Health
Wellco Health Limited
(formerly Nungu Trading 279 (Pty) Ltd)
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
Share code: WLL & ISIN: ZAE000071841
("Wellco" or "the company")
BEE PARTNER FOR WELLCO HEALTH LIMITED
Warning: The listing of the ordinary shares in the company is on the ALTX.
Shareholders are advised of the risks of investing in a company listed on the
ALTX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the ALTX. In terms of the JSE Listings
Requirements a designated advisor has to be retained by the company. The
designated advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE 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 advisor it must make arrangements to
appoint a new designated advisor within 10 business days, failing which the
company faces suspension of trading of its securities. If a designated advisor
is not appointed within 30 days of its suspension the company faces the
termination of its listing without an offer to minority shareholders.
Wellco has formed a joint venture with Black Economic Empowerment (BEE) group
Sembro Consortium.
The new joint venture, to be called Masuluza Health Services (Pty) Ltd
("Masulaza"), will be 51% owned by the Sembro Consortium with Wellco owning the
balance.
Masuluza will seek to grow the national footprint of Wellco"s Igugu Lempilo
range of products, a traditional medicine brand targeted at the black community.
Masuluza"s primary function will be the distributing and marketing of the Igugu
Lempilo range but also aims to grow and expand Wellco"s products, especially in
the traditional African product range. Masulaza is working on the development
of a number of new products in addition to the distribution and marketing of
Wellco"s Igugu Lempilo range.
The Sembro Consortium comprises of Mr. Gcina Mtshali, an executive director of
Wellco Brands (Pty) Ltd, Mr. Derrick Dube, a young entrepreneur with a range of
health, traditional medicine and wellness business ventures and Mr. Njabulo
Ndebele, the owner of Sakhumnotho Business and Tax Consultants and Mazankosi
Consultants.
Mr. Mtshali will be appointed CEO of Masuluza and Mr. Dean Marais, the current
CEO of Wellco, will be the Chairman.
Pretoria
27 January 2006
Designated Advisor
River Sponsors (Pty) Ltd
Date: 27/01/2006 10:31:58 AM Produced by the JSE SENS Department
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