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NETWORK HEALTHCARE HOLDINGS LTD - DEALINGS IN SECURITIES BY DIRECTORS

Release Date: 04/01/2001 12:38
Code(s): NTC
Wrap Text

IN COMPLIANCE WITH THE REQUIREMENTS OF RULE 3.72 TO 3.75 OF THE JSE SECURITIES EXCHANGE SOUTH AFRICA LISTINGS REQUIREMENTS, THE FOLLOWING SHOULD BE NOTED: 1. IN TERMS OF THE VOTING POOL AGREEMENTS BETWEEN FEDSURE LIFE ASSURANCE LIMITED ("FEDSURE") AND THE SHEVEL CONSORTIUM ("THE CONSORTIUM"), RECIPROCAL PRE-EMPTIVE RIGHTS EXIST ON THE SHARES OWNED BY EACH PARTY IN NETWORK HEALTHCARE HOLDINGS LIMITED ("NETCARE")
2. DURING SEPTEMBER 2000 FEDSURE ADVISED THE CONSORTIUM OF ITS DESIRE TO DISPOSE OF UP TO 220 000 000 NETCARE SHARES AND OFFERED THE SHARES TO THE CONSORTIUM AT A PRICE OF 110 CENTS A SHARE PROVIDED THE RIGHTS WERE EXERCISED PRIOR TO 31 DECEMBER 2000.
3. ON 29 DECEMBER 2000 18 000 000 NETCARE SHARES WERE ACQUIRED FROM FEDSURE AS FOLLOWS:
3.1 55 000 000 SHARES WERE CONTRACTED FOR ACQUISITION BY CLINIC HOLDINGS LIMITED, A SUBSIDIARY OF NETCARE, SUBJECT TO THE NECESSARY SHAREHOLDER APPROVAL 3.2 78 000 000 SHARES WERE PLACED WITH THE NETCARE TRUST.
3.3 55 000 000 SHARES WERE ACQUIRED BY THE SHEVEL CONSORTIUM IN WHICH THE UNDERMENTIONED DIRECTORS OF NETCARE HAVE THE FOLLOWING QUANTITATIVE INTERESTS: 3.3.1 DR J SHEVEL (INDIRECT BENEFICIAL) 22 500 000
3.3.2 MR M I SACKS (INDIRECT NON-BENEFICIAL) 22 500 000
3.3.3 MR H R LEVIN (INDIRECT BENEFICIAL) 10 000 000
4. THE REMAINING SHARES HELD BY FEDSURE CONTINUE TO BE HELD BY THEM SUBJECT TO THE PRE-EMPTIVE RIGHTS PROVIDED FOR IN THE VOTING POOL AGREEMENTS. - END -

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