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ASCENDIS HEALTH LIMITED - Change in directors responsibilities, change to the board and renewal of cautionary announcement

Release Date: 07/06/2019 12:30
Code(s): ASC     PDF:  
 
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Change in director’s responsibilities, change to the board and renewal of cautionary announcement

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”)

Change in director’s responsibilities, change to the board and renewal of cautionary announcement

1.   Acting Chief Executive Officer

Shareholders are referred to the announcement released on SENS on 23 May 2019, in which the
Company advised, inter alia, that Mr Andrew Marshall, the current chairman of the board of directors of
the Company (“Board”), will be acting as chief executive officer (“CEO”) until the Board has appointed
a suitable candidate to fill this role.

The Board anticipates that it will make the appointment of a new CEO within three months.

2.   Lead Independent Non-Executive Director

In accordance with paragraph 3.59(c) of the JSE Limited Listings Requirements, the Board is pleased
to advise shareholders that Mrs Bharti Harie, currently an independent non-executive director and chair
of the Company’s audit and risk committee, has been appointed to fulfil the role of lead independent
non-executive director of the Company with effect from 7 June 2019.

3.   Change to the Board

Shareholders are further advised that Mr Phil Roux has resigned as a non-executive director of
Ascendis Health with effect from 7 June 2019.

The Board is of the collective view that Phil could offer greater value to the Company in a consulting
role. The Board has requested that he consult on an ongoing basis and he has agreed to this role, and
we look forward to utilising his extensive experience within the group’s local and international
operations.

The Board will commence a search for an additional independent non-executive director.

4.   Renewal of Cautionary Announcement

Shareholders are further referred to the cautionary and cautionary renewal announcements published
on SENS on 14 January 2019, 8 February 2019, 8 March 2019 and 24 April 2019, respectively, relating
to an unsolicited offer received for the Remedica business unit (“Remedica”) in Cyprus. Ascendis
Health is involved in ongoing negotiations regarding the potential disposal of Remedica and will update
investors should a transaction be concluded.

Shareholders are advised to continue to exercise caution when dealing in the Company’s securities
until a further announcement is made.

7 June 2019
Johannesburg

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 07/06/2019 12:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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