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Netpartner/Netcare - Delay of distribution announcement

Release Date: 03/08/2006 16:00
Code(s): NTC
Wrap Text

Netpartner/Netcare - Delay of distribution announcement Netpartner Investments Limited (Incorporated in the Republic of South Africa) (Registration number 2003/014215/06) ("Netpartner") Network Healthcare Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1996/008242/06) JSE code: NTC ISIN: ZAE000011953 ("Netcare") DELAY OF DISTRIBUTION IN SPECIE OF LETHIMVULA INVESTMENTS LIMITED SHARES Netpartner shareholders are referred to the announcement released on the Securities Exchange News Service ("SENS") on Wednesday, 26 July 2006, and published in the press on Thursday, 27 July 2006, regarding the postponement of the hearing of the application to sanction the scheme of arrangement proposed by Netcare between Netpartner and its shareholders other than Netcare ("the scheme"). Netpartner shareholders are advised that Netcare has agreed to lend and advance an amount of R470m to Netpartner, to be used by Netpartner to subscribe for shares in Lethimvula Investments Limited ("Lethimvula") ("the subscription"), after the Competition Commission has approved the acquisition by Lethimvula of Rowan Angel (Proprietary) Limited and Medscheme Limited and has recommended to the Competition Tribunal that the scheme be approved. The Competition Commission approvals and recommendation are expected to be obtained on or before Friday, 11 August 2006. As the subscription has not yet been implemented, the last day to trade for Netpartner shareholders to participate in the distribution of Netpartner"s Lethimvula shares ("last day to trade") ("distribution"), the record date of the distribution ("the record date"), the date of the distribution ("the distribution date") and the commencement of trading of Lethimvula on the Barnard Jacobs Mellet Securities (Proprietary) Limited over-the-counter trading facility ("the trading date") have been delayed. A further announcement regarding the final salient dates and times of the last day to trade, the record date, the distribution date and the trading date will be released on SENS and published in the South African press in due course. Sandton Thursday, 3 August 2006 Independent adviser, corporate adviser and Corporate adviser to Netcare transactional sponsor to Netpartner Nedbank Capital KPMG Legal adviser to Netpartner and attorneys Legal adviser to Netcare to the scheme Cliffe Dekker Inc. HR Levin Attorneys, Notaries and Conveyancers Reporting accountants and auditors to Sponsor to Netcare Netpartner and Netcare PKF (Jhb) Inc. Merrill Lynch South Africa (Proprietary) Limited Corporate adviser to Netpartner i capital advisers (Proprietary) Limited Date: 03/08/2006 04:00:06 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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