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NTC
NTC
Netcare - Private placement of 6 500 000 Preference Shares
Network Healthcare Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1996/008242/06
JSE code: Ordinary Shares - NTC & ISIN: ZAE000011953
JSE Code: Preference Shares - NTCP & ISIN: ZAE000081121
("Netcare" or the "company")
PRIVATE PLACEMENT BY NETCARE OF 6 500 000 CUMULATIVE, NON-REDEEMABLE, NON-
PARTICIPATING, NON-CONVERTIBLE PREFERENCE SHARES ("PREFERENCE SHARES") AT AN
ISSUE PRICE OF R100.00 PER PREFERENCE SHARE ("THE PRIVATE PLACEMENT")
1. PRIVATE PLACEMENT OF PREFERENCE SHARES BY NETCARE
The Board of Directors of Netcare ("the Board") is pleased to advise
shareholders of the successful private placement by Netcare of 6 500 000
cumulative, non-redeemable, non-participating, non-convertible preference
shares with a par value of 50 cents each at a subscription price of R100.00
per share ("the preference shares").
The private placement closed on Tuesday, 4 July 2006 with irrevocable
undertakings to subscribe for the preference shares amounting to R805
million having been received from selected financial institutions and other
investors. The Board has agreed to allot and issue preference shares to the
value of R650 million at a coupon rate of 75% of the prime overdraft rate,
as quoted by Nedbank Limited from time to time. As all funds have been
received, dividends will accrue as from Wednesday, 12 July 2006.
2. DETAILS OF THE PRIVATE PLACEMENT AND LISTING
2.1 Particulars of the private placement
Issue price per preference share R100.00
(which equates to a premium of R99.50 per
preference share)
Dividend yield based on deemed value of R100.00 75% of prime
Minimum Rand value of subscription per R100 000.00
subscriber acting as principal
Number of preference shares placed 6 500 000
Amount raised in terms of the private placement R650 million
2.2 Private placement
Prior to the issue of the Placing Memorandum, 6 500 000 preference
shares with a par value of 50 cents were placed with select investors
at a subscription price of R100.00 per preference share thereby
raising R650 million.
2.3 Listing
The anticipated date of listing will be at the commencement of
business on Wednesday, 12 July 2006 on the JSE Limited (the "JSE") in
the Specialist Securities - "Preference Shares" sector under the
abbreviated name "NTC Pref" (share code: NTCP and ISIN: ZAE000081121).
3. COPIES OF THE PLACING MEMORANDUM
The Placing Memorandum has been prepared and issued in relation to the
private placement and the listing of the preference shares. Copies of the
Placing Memorandum can be obtained from:* Netcare, 76 Maude Street (corner
West Street), Sandton, 2196; and* Investec Bank Limited, 100 Grayston
Drive, Sandton.
Johannesburg
7 July 2006
Corporate adviser Sponsor
KPMG Merrill Lynch
Legal adviser Independent reporting
HR Levin Attorneys, Notaries and accountants and auditors
Conveyancers PKF
Independent professional expert Preference share arranger
Deloitte & Touche Investec Bank
Date: 07/07/2006 11:35:10 AM Produced by the JSE SENS Department
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