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Announcement to shareholders
The Bidvest Group Limited
Incorporated in the Republic of South Africa
(Registration number 1946/021180/06)
Share Code: BVT
ISIN: ZAE000117321
(“Bidvest”)
Announcement to shareholders
Shareholders are referred to the announcement by Adcock Ingram Holdings Limited (“Adcock”) published
on April 2 2013 in response to the firm intention by Bidvest to make an offer to acquire 60% (on a fully
diluted basis) of the entire issued ordinary share capital of Adcock (“Firm Intention Letter”). The Firm
Intention Letter was approved by the Takeover Regulation Panel (“TRP”), on March 18 2013, prior to its
submission to the Board of Directors of Adcock and an irrevocable unconditional guarantee for the cash
component of the offer contained in the Firm Intention Letter was timeously lodged, on March 26 2013,
with the TRP in accordance with the Regulations in terms of the Companies Act.
Bidvest still believes that Adcock shareholders be given the opportunity to vote on the offer contained in
the Firm Intention Letter. Shareholders are advised that Bidvest is considering its position in relation to the
issues raised and inaccuracies contained in the aforementioned response. A further announcement will be
made by Bidvest in due course.
Johannesburg
April 3 2013
Sponsor
Investec Bank Limited
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