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RH BOPHELO LIMITED - Update announcement regarding the acquisition of assets

Release Date: 19/01/2018 15:46
Code(s): RHB     PDF:  
Wrap Text
Update announcement regarding the acquisition of assets

RH BOPHELO LIMITED
(Previously Newshelf 1388 Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2016/533398/06)
(JSE Share Code: RHB, ISIN: ZAE000244737)
(“RH Bophelo” or “the Company”)


UPDATE ANNOUNCEMENT REGARDING THE ACQUISITION OF ASSETS

RH Bophelo shareholders are referred to the announcement released by RH Bophelo on SENS on 22
November 2017 where shareholders were advised that RH Bophelo had, on 20 November 2017,
entered into acquisition agreements (as may be amended from time to time) (“Agreements”), whereby
on the fulfilment or waiver (as the case may be) of the conditions precedent in the relevant Agreements,
RH Bophelo will acquire:

.   a 76% equity holding in a newly formed holding company (“VPH HoldCo”). VPH HoldCo will then
    use these proceeds to capitalise 3 intermediary holding companies (by way of shareholder loans),
    such that the intermediary holding companies will acquire the businesses of 3 operating entities,
    being Vryburg Private Hospital Equipment Trust, Vryburg Private Hospital Property Trust and
    Vryburg Private Hospital Trust; and

.   a 60% equity holding in Africa Healthcare Proprietary Limited (“AHC”),

    hereinafter collectively referred to as the “Acquisitions”.

Shareholders are advised that the JSE Limited has granted the Company an extension of the 60 day
rule pursuant to paragraph 9.20(b) of the JSE Listings Requirements to dispatch the circular to
shareholders regarding the Acquisitions. The extension has been granted until 28 February 2018. The
delay is due to finalisation of the review of AHC Interim Financial Statements for the six months ended
30 September 2017 to be included in the circular, and also as a result of the Company preparing to be
re-classified as an investment entity post the Acquisitions.

Johannesburg
19 January 2018

Corporate Advisors: Third Way Investment Partners Proprietary Limited and Birkett Stewart McHendrie
Proprietary Limited

Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

Legal Advisor to the AHC Acquisition: Edward Nathan Sonnenbergs Inc.

Legal Advisor to the VPH Acquisition: Tshisevhe Gwina Ratshimbilani Inc

Reporting Accountants: Deloitte & Touche and BDO South Africa Inc.

Date: 19/01/2018 03:46:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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