HSI - Health - Unbundling Finalisation Announcement

HSI - Health - Unbundling Finalisation Announcement                             
Health Strategic Investments Limited                                            
(formerly Newshelf 776 (Proprietary) Limited)                                   
(incorporated in the Republic of South Africa)                                  
(Registration number 2005/012471/06)                                            
JSE share code: HSI    ISIN: ZAE000146742                                       
("Health" or the "Company")                                                     
UNBUNDLING FINALISATION ANNOUNCEMENT                                            
1.   INTRODUCTION                                                               
Holders of ordinary shares in Health ("Shareholders") are referred to the       
announcement by Health released on the Securities Exchange News Service on      
Thursday, 28 October 2010 and in the press on Friday, 29 October 2010 and the   
circular to Shareholders dated Thursday, 28 October 2010 (the "Circular")       
regarding:                                                                      
-    The proposed unbundling by Health of its entire 26.60% shareholding in the 
issued share capital of Life Healthcare Group Holdings Limited ("Life       
    Healthcare") to Shareholders, by way of a distribution in specie in terms   
    of sections 90 and 228 of the Companies Act, 1973 (Act 61 of 1973), as      
    amended, and section 46 of the Income Tax Act, 1962 (Act 58 of 1962), as    
amended, in the ratio of 1 ordinary share in the issued share capital of    
    Life Healthcare Group Holdings Limited for every 1 ordinary share in Health 
    held by a Shareholder at the close of business on Friday, 17 December 2010  
    (the "Unbundling");                                                         
-    The subsequent delisting of Health from the exchange operated by the JSE   
    Limited (the "Delisting"); and                                              
-    The subsequent deregistration of Health as a company in terms of section 73
    of the Companies Act, 1973 (Act 61 of 1973) (the "Deregistration").         
2.   CONDITIONS PRECEDENT                                                       
Shareholders are advised that all conditions precedent to the Unbundling and the
Delisting have been fulfilled and the Unbundling and the Delisting will be      
implemented in accordance with the timetable published in the Circular.         
3.   ENTITLEMENT RATIO                                                          
As stated in the Circular, Shareholders registered as such at the close of      
business on Friday, 17 December 2010, will receive 1 Life Healthcare ordinary   
share for every 1 Health share held on such date.                               
The last day to trade in Health shares on the exchange operated by the JSE      
Limited in order to participate in the unbundling is Thursday, 9 December 2010. 
Health shares will be suspended from trading from Friday, 10 December 2010.     
Newlands                                                                        
2 December 2010                                                                 
Merchant bank and sponsor                                                       
RAND MERCHANT BANK (a division of FirstRand Bank Limited)                       
Attorneys                                                                       
Edward Nathan Sonnenbergs Inc                                                   
Date: 02/12/2010 09:33:01 Supplied by www.sharenet.co.za                     
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