ADVANCED HEALTH LIMITED - Exercise of Share Option and resulting dilution of Advanced Healths interest in PMA

Exercise of Share Option and resulting dilution of Advanced Health’s interest in PMA

ADVANCED HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/059246/06)
(“the Company” or “Advanced Health”)
ISIN Code: ZAE000189049        JSE Code: AVL


 EXERCISE OF SHARE OPTION AND RESULTING DILUTION OF ADVANCED HEALTH’S INTEREST IN PMA

1     INTRODUCTION AND BACKGROUND
      Shareholders are referred to note 19 of the audited consolidated annual financial statements for the
      year ended 30 June 2021. On 26 June 2012, prior to the listing of Advanced Health on the AltX, Marc
      Resnik, through his investment company, Kinser Investments was granted an option to subscribe for
      76,672 Presmed Australia (Proprietary) Limited (“PMA”), at a subscription price of AUD8,00 per PMA
      share, exercisable for a period of 10 years commencing 26 June 2012.

      Shareholders are advised that Marc Resnik, through his investment company Kinser Investments, has
      exercised the option and will be issued with 76 672 new PMA shares. As a result of the issue of
      additional PMA shares, Advanced Health’s interest in PMA will be diluted from the current 60.57% to
      56.44%. This represents a deemed disposal of 4.13%, valued at AUD371 513 (approximately ZAR 4 153
      516) (“Deemed Disposal”).

      The Deemed Disposal does not result in any consideration payable to Advanced Health. The 76 672
      new PMA shares will be issued on or about 22 June 2022.

2     RELATED PARTY ASPECTS
      Marc Resnik is the Managing Director of PMA, as well as an executive director on the Advanced Health
      Board. Marc Resnik and his associated company, Kinser Investments is therefore a related party to
      Advanced Health, as defined in Section 10 the JSE Listings Requirements.

3     CATEGORISATION OF THE TRANSACTIONS
      The Deemed Disposal is categorised below the small related party transaction threshold in terms of
      section 10, read with section 21 of the JSE Listings Requirements and is therefore not subject to a
      Fairness Opinion or Advanced Health shareholder approval.

4     BACKGROUND TO PMA
      Presmed Australia is one of the leading healthcare companies in Australia that specializes in
      establishment and management of surgical day hospitals.

5     PROFIT AND NET ASSET VALUE ATTRIBUTABLE TO PMA
      The net assets of PMA, as per the Advanced Health interim financial statements for the 6 months
      ended 31 December 2021 was ZAR234.7 million. The profit after tax attributable to the net assets of
      PMA was ZAR22.7 million. The interim financial statements were prepared in accordance with
      International Reporting Standards, the SAICA Financial Reporting Guides as issued by the Accounting
      Practices Committee, the JSE Listing Requirements and the Companies Act 71 of 2008 of South Africa.

Pretoria
27 May 2022

Designated Advisor
Grindrod Bank Limited

Date: 27-05-2022 10:00:00
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