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NTC
NTC
Netpartner/Netcare - Delay of distribution announcement
Netpartner Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/014215/06)
("Netpartner")
Network Healthcare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/008242/06)
JSE code: NTC
ISIN: ZAE000011953
("Netcare")
DELAY OF DISTRIBUTION IN SPECIE OF LETHIMVULA INVESTMENTS LIMITED SHARES
Netpartner shareholders are referred to the announcement released on the
Securities Exchange News Service ("SENS") on Wednesday, 26 July 2006, and
published in the press on Thursday, 27 July 2006, regarding the postponement of
the hearing of the application to sanction the scheme of arrangement proposed by
Netcare between Netpartner and its shareholders other than Netcare ("the
scheme").
Netpartner shareholders are advised that Netcare has agreed to lend and advance
an amount of R470m to Netpartner, to be used by Netpartner to subscribe for
shares in Lethimvula Investments Limited ("Lethimvula") ("the subscription"),
after the Competition Commission has approved the acquisition by Lethimvula of
Rowan Angel (Proprietary) Limited and Medscheme Limited and has recommended to
the Competition Tribunal that the scheme be approved. The Competition Commission
approvals and recommendation are expected to be obtained on or before Friday, 11
August 2006.
As the subscription has not yet been implemented, the last day to trade for
Netpartner shareholders to participate in the distribution of Netpartner"s
Lethimvula shares ("last day to trade") ("distribution"), the record date of the
distribution ("the record date"), the date of the distribution ("the
distribution date") and the commencement of trading of Lethimvula on the Barnard
Jacobs Mellet Securities (Proprietary) Limited over-the-counter trading facility
("the trading date") have been delayed.
A further announcement regarding the final salient dates and times of the last
day to trade, the record date, the distribution date and the trading date will
be released on SENS and published in the South African press in due course.
Sandton
Thursday, 3 August 2006
Independent adviser, corporate adviser and Corporate adviser to Netcare
transactional sponsor to Netpartner
Nedbank Capital KPMG
Legal adviser to Netpartner and attorneys Legal adviser to Netcare
to the scheme
Cliffe Dekker Inc. HR Levin Attorneys, Notaries and
Conveyancers
Reporting accountants and auditors to Sponsor to Netcare
Netpartner and Netcare
PKF (Jhb) Inc. Merrill Lynch South Africa
(Proprietary) Limited
Corporate adviser to Netpartner
i capital advisers (Proprietary) Limited
Date: 03/08/2006 04:00:06 PM Produced by the JSE SENS Department
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