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Netcare / Netpartner - Salient Dates And Times Of The Distribution In

Release Date: 10/08/2006 17:27
Code(s): NTC
Wrap Text

Netcare / Netpartner - Salient Dates And Times Of The Distribution In Specie Of Lethimvula Investments Limited Shares 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") SALIENT DATES AND TIMES OF THE DISTRIBUTION IN SPECIE OF LETHIMVULA INVESTMENTS LIMITED SHARES Netpartner shareholders are referred to the announcement released on the Securities Exchange News Service ("SENS") on Thursday, 3 August 2006, and published in the press on Friday, 4 August 2006, regarding the delay of the distribution in specie of Lethimvula Investments Limited shares ("Lethimvula") ("distribution"). Netpartner shareholders are advised that, on Tuesday, 8 August 2006, the Competition Commission approved the acquisition by Lethimvula of Rowan Angel (Proprietary) Limited ("Rowan Angel") and Medscheme Limited ("Medscheme"), subject to certain conditions acceptable to inter alia, Netpartner and Netcare. The Competition Commission also made a recommendation to the Competition Tribunal on Monday, 7 August 2006, that the scheme of arrangement proposed by Netcare between Netpartner and its shareholders other than Netcare ("the scheme") be unconditionally approved. As the Competition Commission has approved the Rowan Angel and Medscheme acquisitions, and has recommended to the Competition Tribunal that the scheme be unconditionally approved, Netcare has agreed to lend and advance an amount of R470 million to Netpartner, to be used by Netpartner to subscribe for shares in Lethimvula. Furthermore, as it is anticipated that all other conditions precedent to the distribution will have been met by the dates below, the expected dates and times pertaining to the distribution will be as follows: Distribution in specie 2006 Last day to trade in Netpartner shares on Friday, 18 August the Barnard Jacobs Mellet Securities (Proprietary) Limited over-the-counter market ("BJM OTC") in order to participate in the distribution Record date for Netpartner shareholders to Friday, 25 August participate in the distribution Netpartner shares trade ex the entitlement Monday, 28 August to the Lethimvula distribution shares Trading of the Lethimvula distribution Monday, 28 August shares on the BJM OTC from commencement of business Expected effective date of the Medscheme Friday, 1 September and Rowan Angel acquisitions Should any of the above dates change, an announcement detailing the new dates will be released on SENS and published in the South African press. A further announcement regarding the final salient dates and times of the scheme will be released on SENS and published in the South African press after approval from the Competition Tribunal has been obtained. Sandton Thursday, 10 August 2006 Independent adviser, corporate adviser Corporate adviser to Netcare and transactional sponsor to Netpartner - LOGO - - LOGO - Nedbank Capital KPMG Legal adviser to Netpartner and attorneys Legal adviser to Netcare to the scheme - LOGO - - LOGO - Cliffe Dekker Inc. HR Levin Attorneys, Notaries and Conveyancers Reporting accountants and auditors to Sponsor to Netcare Netpartner and Netcare - LOGO - - LOGO - PKF (Jhb) Inc. Merrill Lynch South Africa (Proprietary) Limited Corporate adviser to Netpartner Webber Wentzel Bowens - LOGO - LOGO i capital advisers (Proprietary) Limited Competition law advisers to Netcare and Netpartner Date: 10/08/2006 05:28:00 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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