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African Oxygen Limited - Sanctioning Of The Scheme Of Arrangement Proposed By

Release Date: 06/04/2004 16:57:01      Code(s): AFX
AFRICAN OXYGEN LIMITED - SANCTIONING OF THE SCHEME OF ARRANGEMENT PROPOSED BY   
BUSINESS VENTURE INVESTMENTS NO 790 (PROPRIETARY) LIMITED BETWEEN AFROX         
HEALTHCARE LIMITED AND ITS SHAREHOLDERS                                         
African Oxygen Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
Share code: AFX                                                                 
ISIN: ZAE000030920                                                              
("Afrox")                                                                       
Sanctioning of the Scheme of arrangement proposed by Business Venture           
Investments No 790 (Proprietary) Limited between Afrox Healthcare Limited and   
its shareholders                                                                
Further to the announcement published on the Securities Exchange News Service   
of the JSE Securities Exchange South Africa ("JSE") on Friday, 2 April 2004, the
attention of Afrox shareholders is drawn to the joint announcement published on 
Tuesday, 6 April 2004 by Business Venture Investments No 790 (Proprietary)      
Limited ("Bidco") and Afrox Healthcare Limited ("Ahealth") regarding the scheme 
of arrangement proposed by Bidco between Ahealth and its shareholders (the      
"scheme"). In terms of that joint announcement, Ahealth shareholders, of which  
Afrox is one, were advised that the scheme was sanctioned by the High Court of  
South Africa (Witwatersrand Local Division) (the "Court") on Tuesday, 6 April   
2004.                                                                           
The implementation of the scheme is still subject to the fulfillment of the     
following conditions precedent:                                                 
* The registration of a certified copy of the Order of Court sanctioning the    
scheme by the Registrar of Companies in terms of the Companies Act; and         
* The obtaining of the requisite approvals for the implementation of Bidco"s    
acquisition of Ahealth from the Competition Authorities in terms of the         
Competition Act, 89 of 1998.                                                    
As the approval of the Competition Commission and Tribunal is still awaited, the
last day for Ahealth shareholders to trade on the JSE Securities Exchange South 
Africa to be eligible to receive the consideration payable in terms of the      
scheme, has been postponed from 7 April 2004 to a date to be advised, as have   
the remaining estimated salient dates. It is expected that a further            
announcement incorporating the revised estimated salient dates and advising on  
the fulfillment of the remaining conditions precedent will be made in due       
course.                                                                         
Johannesburg                                                                    
6 April 2004                                                                    
Financial advisor to Afrox                                                      
JPMorgan                                                                        
Legal advisor to Afrox                                                          
Bowman-Gilfillan                                                                
Competition Law advisors to Afrox                                               
Edward Nathan & Friedland                                                       
Sponsor to Afrox                                                                
Nedbank Capital                                                                 
Date: 06/04/2004 04:57:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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