Go Back Email this Link to a friend

Afrox/ Ahealth/ Brimstone/ Mvelaphanda/ Bidco - Outcome Of The Hearing

Release Date: 11/03/2005 15:56:02      Code(s): AFX BRN AHH BRT
Afrox/ Ahealth/ Brimstone/ Mvelaphanda/ Bidco - Outcome of the hearing          
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")                                                                       
Afrox Healthcare Limited                                                        
(Incorporated in the Republic of                                                
South Africa)                                                                   
(Registration number: 1985/001313/06)                                           
JSE Share code: AHH                                                             
ISIN: ZAE000022059                                                              
("Ahealth")                                                                     
Brimstone Investment Corporation Limited                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1995/010442/06)                                           
Share Code: BRT                                                                 
ISIN: ZAE000015277                                                              
Share Code: BRN                                                                 
ISIN: ZAE000015285                                                              
("Brimstone")                                                                   
Mvelaphanda Strategic Investments (Proprietary) Limited,                        
 a subsidiary of Mvelaphanda Group Limited                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1998/007485/07)                                           
("Mvelaphanda")                                                                 
Business Venture Investments No. 790 (Proprietary) Limited                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/002733/07)                                           
("Bidco")                                                                       
JOINT ANNOUNCEMENT BY AFROX, AHEALTH, BIDCO, BRIMSTONE AND MVELAPHANDA IN       
RESPECT OF THE OUTCOME OF THE HEARING BEFORE THE COMPETITION APPEAL COURT HELD  
ON 11 MARCH 2005                                                                
As announced to shareholders on 3 March 2005, the Scheme of Arrangement proposed
by Bidco in terms of section 311 of the Companies Act, 61 of 1973 between       
Ahealth and its shareholders for the acquisition by Bidco of all of the issued  
share capital of Ahealth ("the Shareholder Scheme") has become unconditional.   
When implemented, the Shareholder Scheme will result in the acquisition by Bidco
of the entire issued share capital of Ahealth ("the Transaction").              
Shareholders were advised on 10 March 2005 of the application by Community      
Healthcare Holdings (Proprietary) Limited ("Community Healthcare") and          
Cornucopia (Proprietary) Limited ("Cornucopia") to the Competition Appeal Court 
for an order suspending the approval of the Competition Tribunal of the         
Transaction pending the determination of the appeal and reviews against:        
*    the refusal of the application by Community Healthcare and Cornucopia for  
leave to intervene in the merger hearing in respect of the Transaction;    
*    the refusal of the application  by Community Healthcare and Cornucopia for 
     a postponement of the merger hearing in respect of the Transaction; and    
*    the decision approving the Transaction;                                    
("the Application").                                                            
Shareholders were further advised that the hearing of that Application was set  
down for Friday, 11 March 2005.                                                 
Shareholders are now advised that in the hearing held before the Competition    
Appeal Court on Friday, 11 March 2005 the Competition Appeal Court dismissed the
Application with costs on the scale as between attorney and own client.         
Accordingly, the Shareholder Scheme will be implemented in accordance with its  
terms and on the dates and times advised to shareholders on 3 March 2005.       
Johannesburg                                                                    
11 March 2005                                                                   
Financial Advisor to Bidco              Legal Adviser to Afrox                  
Rothschild                              Bowman Gilfillan Inc                    
Financial Adviser to Afrox              Competition Law Adviser to Afrox,       
JPMorgan                                Ahealth and Bidco                       
                                        Edward Nathan (Pty) Ltd                 
Sponsor to Afrox                                                                
Barnard Jacobs Mellet                   Legal Adviser to Bidco                  
Corporate Finance                       Hofmeyr Herbstein & Gihwala Inc         
                                        Edward Nathan (Pty) Ltd                 
Sponsor to Ahealth                                                              
Nedbank Capital                                                                 
Date: 11/03/2005 03:56:07 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.