ASCENDIS HEALTH LIMITED - Fulfilment Of All Outstanding Conditions Precedent

Release Date: 01/06/2017 15:37
Code(s): ASC
 
Wrap Text
Fulfilment Of All Outstanding Conditions Precedent

ASCENDIS HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/005856/06)
ISIN: ZAE000185005
Share code: ASC
(“Ascendis Health” or the “Company”)

FULFILMENT OF ALL OUTSTANDING CONDITIONS PRECEDENT RELATING TO THE
ACQUISITION OF CIPLA AGRIMED PROPRIETARY LIMITED AND CIPLA VET PROPRIETARY
LIMITED

1. INTRODUCTION

Shareholders of Ascendis Health (“Shareholders”) are referred to the announcement released on the
Stock Exchange News Service of the JSE Limited on 6 March 2017, wherein Shareholders were
advised that Ascendis Health had entered into an agreement on 4 March 2017 in terms of which
Ascendis will acquire, directly or indirectly, the entire issued share capital of Cipla Agrimed Proprietary
Limited and the entire issued share capital of Cipla Vet Proprietary Limited for a consideration of R375
million (with a potential adjustment to reflect a price band of R250 million and R500 million in relation
to actual working capital, net debt and earnings before interest, tax, depreciation and amortisation
achieved for the period ending 31 March 2017), from Inyanga Trading 386 Proprietary Limited, a fully
owned subsidiary of Cipla Limited India (the “Transaction”).

2. FULFILMENT OF ALL CONDITIONS PRECEDENT

Shareholders are advised that all conditions precedent pertaining to the Transaction have now been
fulfilled or waived, as the case may be, with the payment by Ascendis Health for the Transaction being
concluded on 1 June 2017. As such, the Transactions are officially unconditional, thereby resulting in
an effective date of 1 June 2017.

1 June 2017

Johannesburg

Corporate Advisor
Coast2Coast Capital Proprietary Limited

Sponsor
Investec Bank Limited

Date: 01/06/2017 03:37:00 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.

Email this JSE Sens Item to a Friend.

Share This Story