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AFROCENTRIC INVESTMENT CORPORATION LIMITED - Finalisation Announcement Acquisition of Dental Information Systems Holdings Proprietary Limited (DENIS)

Release Date: 27/08/2020 15:00
Code(s): ACT     PDF:  
Wrap Text
Finalisation Announcement – Acquisition of Dental Information Systems Holdings Proprietary Limited (DENIS)

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 DENTAL INFORMATION SYSTEMS
HOLDINGS PROPRIETARY LIMITED (DENIS)

1. INTRODUCTION

AfroCentric shareholders (“Shareholders”) are referred to the detailed transaction announcement
published on the Stock Exchange News Service of the JSE Limited on 13 December 2019, wherein
they were advised that AfroCentric via its subsidiary, AfroCentric Health (RF) Proprietary Limited, has
entered into a sale of shares agreement with EOH Abantu Proprietary Limited to acquire all of the
shares in DENIS at a net price of R170 million.


2. FULFILMENT OF CONDITION PRECEDENT

The Acquisition was subject to approval by the Competition Commission, which was granted on 26
August 2020. Consequently the Acquisition has now become unconditional and will be implemented
according to its terms. The effective date of the Acquisition will be 1 October 2020.




Johannesburg
27 August 2020


Sponsor
Sasfin Capital (a member of the Sasfin group)

Date: 27-08-2020 03:00:00
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