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WLL
WLL
Wellco Health Limited - Wellco Health and Woolworths announce joint venture
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")
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 HEALTH AND WOOLWORTHS ANNOUNCE JOINT VENTURE
Wellco Health today announced an exclusive partnership with Woolworths in the
health and wellbeing arena. As part of this strategic partnership, Wellco
Health will formulate and produce a customised range of adult and children
health supplements under the Woolworths brand. Wellco Health will also work with
Woolworths in the development of a comprehensive marketing and communication
strategy for these products.
The global wellness revolution is driving personal health awareness and there is
huge demand for health supplements, and products with strong nutritional
benefits. This Wellco Health / Woolworths partnership provides an opportunity
for both parties to benefit from the vitamin supplement market in South Africa,
worth more than R2.3 billion and growing at approximately 14% per annum.
This venture provides Wellco Health with its first opportunity to create a range
of private label premium vitamin supplements. It is well positioned to
successfully leverage its skills and capabilities to develop this prestige range
of nutritional supplements for Woolworths. The Woolworths range will be a
strategic addition to its current stable of brands, consisting of Herbology,
Superstars, KGB and Igugu Lempilo.
According to Wellco Health CEO, Dean Marais, the product range will embody
Woolworths" values and these innovative formulations will apply the most up-to-
date pharmacopic knowledge. Products will be manufactured in a top GMP
pharmaceutical facility with MCC and Department of Health certification,
alongside scheduled medicines, ensuring superior quality. Packaging will ensure
product protection and will be environmentally friendly. It is anticipated that
products will be launched in the latter half of 2006.
Marais comments that it is a significant endorsement for Wellco Health to have
secured this partnership, and is delighted to be working alongside such a
prestigious organisation as Woolworths.
Pretoria
27 January 2006
Designated Advisor
River Sponsors (Pty) Ltd
Date: 27/02/2006 09:38:04 AM Produced by the JSE SENS Department
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