BIOSCIENCE BRANDS LIMITED - Update on various matters and Further Cautionary Announcement

Update on various matters and Further Cautionary Announcement


BIOSCIENCE BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
(JSE code: BIO ISIN: ZAE000115036)
(BioScience or the Company)

UPDATE ON VARIOUS MATTERS AND FURTHER CAUTIONARY ANNOUNCEMENT

 
Update on various matters

Shareholders are referred to the announcement released on SENS on 20 August 2013 in 
respect of:

- negotiations to dispose of the Muscle Science Brand and related sub-brands and 
trade-marks or BioSciences subsidiary Aldabri 53 (Pty) Limited (Aldabri), which 
holds and trades Muscle Science, to Akacia Healthcare (Pty) Ltd (Akacia) (the 
Sale Transaction);

- the notice of motion for the intention by Dr AP Ferreira to make application for 
the winding-up of BioScience; and

- Akacia perfecting their security over the assets of Aldabri.

Since then, the board of BioScience has also continued its discussions with the 
other major creditor, Absa Bank Limited.

Shareholders and creditors are advised that the board of BioScience is continuing 
with its discussions with all these parties in order to secure the best outcome 
for creditors and shareholders. 


Renewal of cautionary announcement

Shareholders are advised to continue exercising caution when dealing in the 
companys shares until a further announcement is made and until the financial 
effects of the Sale Transaction had been announced.
 
9 September 2013
Johannesburg
 
Designated Adviser
Exchange Sponsors
 


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