ADVANCED HEALTH LIMITED - Announcement relating to the disposal of property held by Presmed Australia Pty Ltd

Announcement relating to the disposal of property held by Presmed Australia Pty Ltd

ADVANCED HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/059246/06)
(“the Company” or “Advanced Health”)
ISIN Code: ZAE000189049        JSE Code: AVL

ANNOUNCEMENT RELATING TO THE DISPOSAL OF PROPERTY HELD BY PRESMED AUSTRALIA
PTY LTD (“PRESMED AUSTRALIA”)


1.   Background
     Advanced Health shareholders are advised that the directors have sold an asset of the
     Company, being Presmed Australia’s New South Wales’ property (“the Property), to CC No
     1 Pty Ltd and CC No 2 Pty Ltd for a total consideration of AUD$4 151 478 (“the Sale”),
     which approximates R39 652 842 at the exchange rate of R9.5515 to the Australian Dollar.
     The purchasers are not related parties to Advanced Health.

2.   Description of the Property
     The Property is situated at Suite 6, 12-14 Malvern Avenue, Chatswood, NSW 2067 and is
     the premises from which the Ophthalmic Surgery Centre operates (a business which
     Presmed Australia is the majority owner).

3.   Effective Date
     The effective date for the Sale will be the date of the transfer of the property.

4.   Rationale for the Sale
     The rationale for the sale by Advanced Health is in terms of a wider strategy of the
     Advanced Health group to use the funds from the proceeds of the sale to continue to
     invest and grow the Australian facilities. Furthermore, with the Australian property market
     being strong, the directors believe an offer of this amount would not be likely to be
     achieved in the future.

5.   Conditions precedent
     The conditions precedent have all been met and all funds received.

6.   Classification of the transaction
     The transaction is a Category 2 transaction in terms of the JSE Listings Requirements and
     thus shareholder approval is not required.

7.   Financial Information
     The value of the property was reflected at R36 703 245 in the annual financial statements
     for the year ended 30 June 2015 and was categorised as a non-current asset held for sale.

     The profit after tax attributable to the Property was R983 982 for the year ended 30 June
     2015, noting that the property was occupied by the group at an annual rental of
     AUD$220 004.



Johannesburg
14 September 2015

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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