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DSY - Discovery Holdings Limited - Fulfilment of conditions precedent on the

Release Date: 30/07/2010 15:20
Code(s): DSY
Wrap Text

DSY - Discovery Holdings Limited - Fulfilment of conditions precedent on the acquisition of Standard Life Healthcare DISCOVERY HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/007789/06) ISIN: ZAE000022331 JSE share code: DSY ("Discovery" or "Company") FULFILMENT OF CONDITIONS PRECEDENT ON THE ACQUISITION OF STANDARD LIFE HEALTHCARE Shareholders are referred to the announcement released on SENS on 11 May 2010, wherein shareholders were advised that Discovery had entered into an agreement to acquire the entire share capital of Standard Life Healthcare, a wholly-owned subsidiary of the Standard Life plc, for R1.56bn (GBP138m). The investment in Standard Life Healthcare was further contributed to PruHealth Holdings as a capital investment in order to increase Discovery`s interest in both PruHealth and PruProtect from 50% to 75% ("the Transaction"). PruHealth Holdings is the holding company of PruHealth and PruProtect, the joint ventures between Discovery and Prudential Assurance Company of the United Kingdom. Shareholders are advised that the conditions precedent to the Transaction have been fulfilled. Accordingly, effective from 1 August 2010, Standard Life Healthcare will be a wholly-owned subsidiary of PruHealth Holdings Limited and Discovery`s interest in this enlarged group will increase from 50% to 75%. Johannesburg 30 July 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30/07/2010 15:20:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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