AFROCENTRIC INVESTMENT CORPORATION LIMITED - Finalisation announcement - acquisition of a further 74% interest in Activo

Finalisation announcement - acquisition of a further 74% interest in Activo

AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT
ISIN: ZAE000078416
(“AfroCentric” or “the Company”)

FINALISATION ANNOUNCEMENT - ACQUISITION OF A FURTHER 74% INTEREST IN ACTIVO
HEALTH PROPRIETARY LIMITED (“ACTIVO”) BY AFROCENTRIC

1.     Introduction

AfroCentric shareholders (“Shareholders”) are referred to the detailed transaction announcement
published on the Stock Exchange News Service of the JSE Limited on 9 October 2018, wherein they
were advised that AfroCentric via its subsidiary, ACT Healthcare Assets Proprietary Limited,
concluded an agreement in terms of which it acquired a further 74% interest in Activo, from WAD
Holdings Proprietary Limited and Messrs SE Claassen and JPF Martin for an aggregate purchase
consideration of R588 million (“Acquisition”).


2.     Fulfilment of conditions precedent

The Acquisition was subject to approval by Shareholders, which was obtained at a general meeting
of the Company on 10 January 2019, and the approval of the Competition Commission, which was
granted on 26 February 2019. Consequently the Acquisition has now become unconditional and will
be implemented according to its terms. The effective date of the Acquisition will be 1 March 2019.

Johannesburg
28 February 2019


Sponsor
Sasfin Capital (a member of the Sasfin Group)

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