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LITHA HEALTHCARE GROUP LIMITED - Update in respect of a BEE transaction, the intention to delist, a possible offer and a further cautionary

Release Date: 28/03/2013 12:54
Code(s): LHG     PDF:  
Wrap Text
Update in respect of a BEE transaction, the intention to delist, a possible offer and a further cautionary

Litha Healthcare Group Limited

(Incorporated in the Republic of South Africa)

(Registration number 2006/006371/06)

JSE code: LHG ISIN: ZAE000144671

(“Litha” or “the Company”)



UPDATE IN RESPECT OF A BLACK ECONOMIC EMPOWERMENT TRANSACTION, THE
INTENTION      TO    DELIST,     A   POSSIBLE       OFFER      AND     A   FURTHER       CAUTIONARY
ANNOUNCEMENT



Litha shareholders (“Shareholders”) are referred to the announcement published on SENS on
26 February 2013 (“Announcement”) pertaining to, inter alia, the proposed subscription for ordinary
shares in the Company by a selected black economic empowerment party, other transactions
ancillary thereto, the intention to seek a voluntary delisting of Litha from the exchange operated by the
JSE Limited (“Delisting”) and the potential share repurchase offer to Shareholders (“Share
Repurchase”), pursuant to the Delisting (collectively, the “Proposed Transactions”).



The Company indicated in the Announcement that Litha’s board of directors (“Board”) would
endeavour to publish full details pertaining to the Proposed Transactions, or a withdrawal of
cautionary in the event that the parties did not conclude definitive agreements pertaining to the
Proposed Transactions (“Definitive Agreements”), by no later than 31 March 2013.



Shareholders are advised that negotiations between the parties in relation to the Proposed
Transactions have reached an advanced stage and that the Company and the relevant parties are in
the process of finalising and concluding the Definitive Agreements. The Board will endeavour to
publish full details pertaining to the Proposed Transactions as soon as possible and, assuming the
parties conclude the Definitive Agreements, an announcement is expected imminently.



Shareholders are specifically cautioned that, at the date of this announcement, the Company has not
yet entered into the Definitive Agreements. Shareholders are furthermore cautioned that this
announcement does not constitute a firm intention to make an offer or to make the Offer (as defined in
the Announcement) or to propose the Share Repurchase and, until such time as Litha informs
Shareholders otherwise, there is no offer to or Share Repurchase from Shareholders.
Accordingly, Shareholders are reminded to continue exercising caution when dealing in the
Company’s securities until a detailed announcement or a withdrawal of cautionary announcement is
published regarding the Proposed Transactions.



Midrand

28 March 2013



Sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 28/03/2013 12:54:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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