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Update in respect of the Austell Pharma Disposal
Ascendis Health Limited
(Registration number 2008/005856/06)
(Incorporated in the Republic of South Africa)
Share code: ASC
ISIN: ZAE000185005
(“Ascendis Health” or “the Company”)
UPDATE IN RESPECT OF THE AUSTELL PHARMA DISPOSAL
INCREASED PURCHASE CONSIDERATION
Ascendis Health is pleased to inform shareholders that the Company, Ascendis Health SA Holdings
Proprietary Limited (“AHSA”) and Austell Pharmaceuticals Proprietary Limited (“Austell”) have concluded an
addendum to the agreement in respect of the Austell Pharma Disposal (defined below), increasing the
purchase consideration payable for the Austell Pharma Disposal by R22 000 000 from R410 000 000 to
R432 000 000.
Shareholders are referred to the various announcements relating to the proposed disposal by AHSA, a
wholly-owned subsidiary of Ascendis Health, of its direct and indirect interests in the entities through which
the businesses known as “Ascendis Pharma” operates to:
- Pharma-Q Holdings Proprietary Limited and Imperial Logistics Limited (the “Pharma-Q/Imperial
Pharma Disposal”); or
- in the event that shareholders do not approve the Pharma-Q/Imperial Pharma Disposal, Austell (the
“Austell Pharma Disposal”),
released on SENS by Ascendis Health, and specifically the announcements released on SENS on 1 February
2022 and 17 July 2022, as well as the announcement released on SENS on 13 September 2022 advising
shareholders that Ascendis Health had issued a circular (the “Circular”) to its shareholders regarding the
Pharma-Q/Imperial Pharma Disposal and the Austell Pharma Disposal.
The recommendation of the board of directors of Ascendis (the “Board”) that shareholders vote IN FAVOUR
of the Austell Pharma Disposal and AGAINST the Pharma-Q/Imperial Pharma Disposal remains
unchanged.
The increase in the purchase consideration payable in respect of the Austell Pharma Disposal is not
considered ‘significant’ in terms of section 11.56 of the JSE Listings Requirements and no supplementary
circular will be issued in this regard. The Board confirms that save as set out above, there has been no
significant change and no significant new matter that has arisen since the publication of the Circular. The
salient dates and times in respect of the Pharma-Q/Imperial Disposal and the Austell Pharma Disposal set
out in the Circular remain unchanged.
26 September 2022
Bryanston
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 26-09-2022 08:35:00
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