| Thu 10 Aug 2006, 17:27 | | Netcare / Netpartner - Salient Dates And Times Of |
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NTC
NTC
Netcare / Netpartner - Salient Dates And Times Of The Distribution In
Specie Of Lethimvula Investments Limited Shares
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")
SALIENT DATES AND TIMES OF THE DISTRIBUTION IN SPECIE OF LETHIMVULA INVESTMENTS
LIMITED SHARES
Netpartner shareholders are referred to the announcement released on the
Securities Exchange News Service ("SENS") on Thursday, 3 August 2006, and
published in the press on Friday, 4 August 2006, regarding the delay of the
distribution in specie of Lethimvula Investments Limited shares ("Lethimvula")
("distribution").
Netpartner shareholders are advised that, on Tuesday, 8 August 2006, the
Competition Commission approved the acquisition by Lethimvula of Rowan Angel
(Proprietary) Limited ("Rowan Angel") and Medscheme Limited ("Medscheme"),
subject to certain conditions acceptable to inter alia, Netpartner and Netcare.
The Competition Commission also made a recommendation to the Competition
Tribunal on Monday, 7 August 2006, that the scheme of arrangement proposed by
Netcare between Netpartner and its shareholders other than Netcare ("the
scheme") be unconditionally approved.
As the Competition Commission has approved the Rowan Angel and Medscheme
acquisitions, and has recommended to the Competition Tribunal that the scheme be
unconditionally approved, Netcare has agreed to lend and advance an amount of
R470 million to Netpartner, to be used by Netpartner to subscribe for shares in
Lethimvula. Furthermore, as it is anticipated that all other conditions
precedent to the distribution will have been met by the dates below, the
expected dates and times pertaining to the distribution will be as follows:
Distribution in specie 2006
Last day to trade in Netpartner shares on Friday, 18 August
the Barnard Jacobs Mellet Securities
(Proprietary) Limited over-the-counter
market ("BJM OTC") in order to participate
in the distribution
Record date for Netpartner shareholders to Friday, 25 August
participate in the distribution
Netpartner shares trade ex the entitlement Monday, 28 August
to the Lethimvula distribution shares
Trading of the Lethimvula distribution Monday, 28 August
shares on the BJM OTC from commencement of
business
Expected effective date of the Medscheme Friday, 1 September
and Rowan Angel acquisitions
Should any of the above dates change, an announcement detailing the new dates
will be released on SENS and published in the South African press.
A further announcement regarding the final salient dates and times of the scheme
will be released on SENS and published in the South African press after approval
from the Competition Tribunal has been obtained.
Sandton
Thursday, 10 August 2006
Independent adviser, corporate adviser Corporate adviser to Netcare
and transactional sponsor to Netpartner
- LOGO - - LOGO -
Nedbank Capital KPMG
Legal adviser to Netpartner and attorneys Legal adviser to Netcare
to the scheme
- LOGO - - LOGO -
Cliffe Dekker Inc. HR Levin Attorneys, Notaries
and Conveyancers
Reporting accountants and auditors to Sponsor to Netcare
Netpartner and Netcare
- LOGO - - LOGO -
PKF (Jhb) Inc. Merrill Lynch South Africa
(Proprietary) Limited
Corporate adviser to Netpartner Webber Wentzel Bowens
- LOGO - LOGO
i capital advisers (Proprietary) Limited Competition law advisers to
Netcare and Netpartner
Date: 10/08/2006 05:28:00 PM Produced by the JSE SENS Department
