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Aspen Pharmacare Holdings Limited - Sanctioning by the high court of the Aspen

Release Date: 07/06/2005 17:00
Code(s): APN
Wrap Text

Aspen Pharmacare Holdings Limited - Sanctioning by the high court of the Aspen scheme of arrangement Aspen Pharmacare Holdings Limited (Incorporated in the Republic of South Africa) (Registration Number 1985/002935/06) (Share code APN ISIN: ZAE000023586) ("Aspen") SANCTIONING BY THE HIGH COURT OF THE ASPEN SCHEME OF ARRANGEMENT 1. SANCTIONING OF THE ASPEN SCHEME OF ARRANGEMENT Further to the announcement dated 30 May 2005, shareholders are advised that the scheme of arrangement ("the scheme") in terms of section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended, proposed by Aspen between itself, Pharmacare Limited ("Pharmacare") and the shareholders of Aspen (other than Pharmacare, Ceppwawu Pharmaceuticals Investments (Pty) Limited, Ceppwawu Pharmaceuticals Investments 2 (Pty) Limited, Imithi Investments (Pty) Limited and the Industrial Development Corporation of South Africa Limited), was sanctioned by the High Court of South Africa (Witwatersrand Local Division) on Tuesday, 7 June 2005. 2. CONDITIONS PRECEDENT The only remaining condition precedent to the Imithi transaction and the scheme is the registration by the Registrar of Companies of the Order of Court sanctioning the scheme. 3. FURTHER ANNOUNCEMENT A further announcement regarding the registration of the Order of Court by the Registrar of Companies and the final salient dates and times of the scheme will be made in due course. Sandton 7 June 2005 Investment bank to Aspen Sponsor to Aspen Investec Bank Limited Investec Bank Limited Transaction advisor to Imithi Legal advisor to Aspen Andisa Capital Werksmans Inc. Funder to Imithi Legal advisor to Imithi IDC Bowman Gilfillan Attorneys Independent professional Reporting accountants and auditors expert PricewaterhouseCoopers Inc. EY Corporate Finance (Pty) Limited Date: 07/06/2005 05:00:15 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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