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Afrox /bidco/ahealth - Joint Announcement From Afrox, Ahealth And Bidco On The

Release Date: 30/09/2004 08:30:01      Code(s): AFX AHH
AFROX /BIDCO/AHEALTH - JOINT ANNOUNCEMENT FROM AFROX, AHEALTH AND BIDCO ON THE  
                       EXTENSION TO THE DATE FOR THE FULFILMENT OF CONDITIONS   
                       PRECEDENT                                                
AFRICAN OXYGEN LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
JSE Share code: AFX                                                             
NSX Share code: AOX                                                             
ISIN: ZAE000030920                                                              
("Afrox")                                                                       
BUSINESS VENTURE INVESTMENTS NO. 790 (PROPRIETARY) LIMITED                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/002733/07)                                           
("Bidco")                                                                       
AFROX HEALTHCARE LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1985/001313/06)                                           
Share code: AHH                                                                 
ISIN: ZAE000022059                                                              
("Ahealth")                                                                     
JOINT ANNOUNCEMENT FROM AFROX, AHEALTH AND BIDCO ON THE EXTENSION TO THE DATE   
FOR THE FULFILMENT OF CONDITIONS PRECEDENT                                      
The Scheme of Arrangement in terms of section 311 of the Companies Act, 61 of   
1973, as amended, proposed by Bidco between Ahealth and its shareholders for the
acquisition by Bidco of all of the issued share capital of Ahealth ("the        
Shareholder Scheme"), is subject to the fulfilment of the condition that all    
approvals required from the Competition Commission and the Competition Tribunal 
for the implementation of the Shareholder Scheme are obtained ("the Competition 
Condition"). If the approvals are obtained subject to any conditions, Afrox is  
entitled to waive the requirement that any approval be obtained on an           
unconditional basis.                                                            
The Scheme of Arrangement in terms of section 311 of the Companies Act, 61 of   
1973, as amended, proposed by Bidco between Ahealth and the participants in the 
Ahealth Share Option Scheme (the "Scheme Participants") in terms of which       
options held by employees over Ahealth shares will be cancelled against payment 
of the scheme consideration to the Scheme Participants ("the Employee Scheme"), 
is subject to the fulfilment of the condition, on or before 31 October 2004,    
that the Shareholder Scheme has become unconditional (the "Shareholder Scheme   
Condition").                                                                    
Shareholders were advised in an announcement on 28 July 2004 that the Merger and
Co-operation Agreement between Bidco, Ahealth and Afrox ("the Merger Agreement")
and the date for fulfilment of the Competition Condition had been extended to 30
September 2004. Shareholders are now advised that Afrox, Ahealth and Bidco have 
agreed to further extend the Merger Agreement and the date for fulfilment of the
Competition Condition in the Shareholder Scheme and of the Shareholder Scheme   
Condition in the Employee Scheme to 31 December 2004.                           
Johannesburg                                                                    
30 September 2004                                                               
Sponsor to Afrox                                                                
Barnard Jacobs Mellet                                                           
Corporate Finance                                                               
Sponsor to Ahealth                                                              
NEDBANK CAPITAL                                                                 
Date: 30/09/2004 08:30:08 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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