The issue price of the ZAR 1,700,000,000 6.0 per cent. Convertible Bonds due 2011 (the ‘‘Bonds’’) of Network Healthcare Holdings Limited (the ‘‘Issuer’’ or ‘‘Netcare’’) is 100 per cent. of their principal amount.
Placing Memorandum relating to a subscription by way of private placement of a maximum of 10 000 000 cumulative, non-redeemable, non-participating, non-convertible preference shares of 50 cents each ("preference shares") at a deemed subscription price of R100.00 per share.
The UK independent acute care market is attractive and the market outlook positive.
Market characteristics include: Consumer demand for high-quality, timely heathcare services.
It was announced on SENS on 23 March 2006 and in the press on 24 March 2006 that Netcare and Netpartner wish to implement the proposed transactions which if successfully implemented will result in, inter alia
- a Broad-Based Black Economic Empowerment proposal entailing a specific issue of ordinary shares for cash and the disposal of the issued shares in Basfour 2078 (Proprietary) Limited;
– the amendment of the Netcare Share Incentive Scheme; and
– a specific authority for Netcare and/or its subsidiaries to repurchase its shares and incorporating:
– a notice convening a general meeting of shareholders; and
– a form of proxy for use by certificated and own-name dematerialised shareholders (yellow)
