ASCENDIS HEALTH LIMITED - Results of the Rights Offer

Results of the Rights Offer

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

RESULTS OF THE RIGHTS OFFER

1.    Introduction
      Ascendis shareholders are referred to the finalisation announcement released on the Stock
      Exchange News Service (“SENS”) of the JSE Limited on 23 November 2017 and the circular to
      shareholders dated 28 November 2017 relating to an underwritten, renounceable rights offer to
      raise R750 million (“Rights Offer”) in order to settle EUR50 million of the deferred vendor
      consideration payment owing to the sellers of Remedica Holdings Limited at a discount in advance
      of the original due date.
      The Rights Offer consisted of an offer for subscription of 37,501,366 new Ascendis ordinary shares
      (“Rights Offer Shares”) in the ratio of 8.365 Rights Offer Shares for every 100 ordinary shares held
      on the record date of the Rights Offer, at a subscription price of R20.00 per Rights Offer Share.
      The subscription price of R20.00 per Rights Offer Share was at a premium of 4.6% to the 30 day
      volume weighted traded average price (“VWAP”) on Tuesday, 31 October 2017 of R19.12, being
      the date immediately prior to the voluntary announcement of the Rights Offer released on SENS.
      The Rights Offer was fully underwritten to the extent of R750 million by a wholly owned subsidiary
      of the major shareholder, Coast2Coast Capital Proprietary Limited (“Coast2Coast” or “the
      Underwriter”).

2.    Underwriting
      In terms of its pro rata entitlement as a shareholder of Ascendis, Coast2Coast was entitled to
      subscribe for 9,903,767 Rights Offer Shares. For ease of administration, Coast2Coast has elected
      to subscribe for this entitlement as part of its underwriting obligation post the closing of the Rights
      Offer, along with Rights Offer Shares not taken up by other shareholders. Effectively, Coast2Coast
      has taken up its rights in full and subscribed for a further 27,437,020 Rights Offer Shares,
      comprising 73% of the Rights Offer, in terms of its underwriting commitment.

3.    Results of the Rights Offer
      The Rights Offer closed at 12:00 on Friday, 15 December 2017 and the results thereof are set out
      in the table below.
                                                                                                           Value of
                                                                                                          shares at
                                                                       Number of      Percentage of     R20.00 per
                                                                      Rights Offer     Rights Offer    Rights Offer
                                                                          Shares            Shares           Share
          Rights Offer Shares available for subscription              37,501,366               100    R750,027,320
          Subscriptions for Rights Offer Shares                          160,314                0.4     R3,206,280
          Applications for excess Rights Offer Shares
                                                                             265                0.0         R5,300
          fulfilled
          Rights Offer Units allocated to Underwriter1                37,340,787              99.6    R746,815,740
          Total Rights Offer subscription                             37,501,366               100    R750,027,320
      1
       Includes Coast2Coast’s pro rata entitlement of 9,903,767 Rights Offer Shares

      Shareholders are advised that applications for excess will be awarded in full and that 265 Rights
      Offer Shares will be allocated to shareholders in respect of such excess applications. The
      allocation of Rights Offer Shares in respect of excess applications was equitable and took
      cognisance of the number of ordinary shares held prior to the Rights Offer, the number of rights
      exercised and the number of excess Rights Offer Shares applied for.
      Following the conclusion of the Rights Offer, the Company’s total shares in issue will increase to
      489,469,959 Ascendis ordinary shares of no par value.

4.    Remaining dates and times

      Dematerialised shareholders’ accounts updated and debited by CSDP or            Monday, 18 December
      broker (in respect of payment for Rights Offer Shares)

      Certificates distributed to certificated shareholders (in respect of the        Monday, 18 December
      Rights Offer Shares)

      Dematerialised shareholders’ accounts updated and debited by their           Wednesday, 20 December
      CSDP or broker (in respect of successful excess applications)

      Certificates distributed to certificated shareholders (in respect of         Wednesday, 20 December
      successful excess applications)




18 December 2017
Johannesburg

Corporate Advisor and Underwriter
Coast2Coast Capital Proprietary Limited

Sponsor
Investec Bank Limited

Date: 18/12/2017 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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