ADCOCK INGRAM HOLDINGS LIMITED - Further cautionary announcement

Further cautionary announcement

Adcock Ingram Holdings Limited

(Incorporated in the Republic of South Africa)

Registration number 2007/016236/06

Share code: AIP

ISIN: ZAE000123436

(“Adcock Ingram” or “the Company”)



FURTHER CAUTIONARY ANNOUNCEMENT



Shareholders are referred to the announcement released on the Stock

Exchange News Service (“SENS”) on or around 17h40 South Africa time

on 3 December 2013 by The Bidvest Group Limited (“Bidvest”) on

behalf of Bidvest and Community Investment Holdings Proprietary

Limited (“CIH”) (together “the Bidvest Consortium”) regarding the

Bidvest Consortium’s legal challenge of the “CFR / Adcock

Transaction”.



Shareholders are advised that the Company is in receipt of an

application (“Bidvest Application”) brought by BB Investment Company

(Pty) Limited, a subsidiary of Bidvest, launching legal proceedings

in relation to the scheme of arrangement (“the Scheme”) contemplated

and set out in the Combined Circular to Adcock Ingram shareholders

dated 18 November 2013, as supplemented.



The Bidvest Consortium is seeking orders inter alia declaring the

Scheme and related transactions void and/or that the general

meetings of Adcock Ingram shareholders scheduled to take place on 18

December 2013 (“General Meetings”) have not been lawfully convened,

and interdicting the implementation of the Scheme and related

transactions. It is noteworthy, however, that the Bidvest Consortium

is not seeking to interdict the holding of, or voting at, the

General Meetings.



The Bidvest Application has not been brought on an urgent basis.

Bidvest has indicated that it intends to have the matter argued and

decided in February 2014.



The Company is in the process of reviewing and taking advice on the

Bidvest Application. Shareholders are therefore advised to continue

exercising caution when dealing in the Company’s securities until a

further announcement is made.



For media enquiries:

Brunswick

Tel: +27 11 502 7300

Carol Roos

+27 72 690 1230

Marina Bidoli

+27 83 253 0478



Midrand

4 December 2013

Sponsor

Deutsche Securities (SA) (Proprietary) Limited


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