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Afrox/Ahealth/Bidco - Further joint announcement from Afrox, Ahealth and Bidco

Release Date: 26/10/2004 17:02:06      Code(s): AFX AHH
Afrox/Ahealth/Bidco - Further joint announcement from Afrox, Ahealth and Bidco  
African Oxygen Limited                  Business Venture Investments No. 790    
(Incorporated in the Republic of South  (Proprietary) Limited                   
Africa)                                 (Incorporated in the Republic of        
(Registration number 1927/000089/06)    South Africa)                           
JSE Share code: AFX                     (Registration number: 2003/002733/07)   
NSX Share code: AOX                     ("Bidco")                               
ISIN: ZAE000030920                                                              
Afrox Healthcare Limited                                                        
(Incorporated in the Republic of South                                          
(Registration number: 1985/001313/06)                                           
Share code: AHH                                                                 
ISIN: ZAE000022059                                                              
APPLICATION SERVED ON THEM ON 14 OCTOBER 2004                                   
On 15 October 2004, shareholders were advised, in a joint announcement of Afrox,
Ahealth and Bidco, that on 14 October 2004 a court application ("the            
Application") was served on Afrox, Ahealth and Bidco, inter alia, by Johannes   
Paulus Franciscus Dalmeyr and Wendy Counihan.  The Application has been made to 
the High Court of South Africa (Witwatersrand Local Division) ("the Court") for 
an order declaring, inter alia, that the scheme of arrangement in terms of      
section 311 of the Companies Act, No. 61 of 1973, as amended, proposed by Bidco 
between Ahealth and its shareholders, which was sanctioned by the Court on 6    
April 2004 ("the scheme"), and pursuant to which Bidco is to acquire all the    
shares in Ahealth, has lapsed as a result of the non-fulfilment, on or before 30
September 2004, of the remaining outstanding condition precedent to which the   
scheme is subject, being the condition precedent that the Competition Tribunal  
grants its approval to the implementation of the scheme ("Competition           
As announced on 30 September 2004, Afrox, Ahealth and Bidco have agreed to      
extend the date for fulfilment of the Competition Condition, and the date of the
Merger and Co-operation Agreement concluded amongst them on 14 November 2003,   
from 30 September 2004 to 31 December 2004.                                     
Shareholders are now advised that Afrox, Ahealth and Bidco have filed a notice  
of intention to oppose the Application.                                         
26 October 2004                                                                 
Sponsor to Afrox                                                                
Barnard Jacobs Mellet                                                           
Corporate Finance                                                               
Sponsor to Ahealth                                                              
Nedbank Capital                                                                 
Date: 26/10/2004 05:02:07 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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