Exercise by Dissenting Shareholders of Appraisal Rights
Ascendis Health Limited
(Registration number 2008/005856/06)
(Incorporated in the Republic of South Africa)
Share code: ASC
(“Ascendis Health” or “the Company”)
EXERCISE BY DISSENTING SHAREHOLDERS OF APPRAISAL RIGHTS
1.1. Shareholders are referred to the circular issued to Shareholders on 3 September 2021
(the “Circular”) and the announcement released on the Stock Exchange News Service (“SENS”) by
Ascendis Health on 4 October 2021 (the “Results SENS Announcement”).
1.2. Capitalised words and phrases in this announcement shall, unless the context indicates otherwise, bear
the same meanings ascribed thereto in the Circular.
2. Exercise by Dissenting Shareholders of Appraisal Rights
2.1. As detailed in the Circular, Shareholders were afforded the right, in terms of section 164 of the Companies
Act, 2008 (Act 71 of 2008), as amended (“Act”), to demand that the Company pay them the fair value of
all of such number of Ascendis Health Shares as may form the subject matter of their demand (“Appraisal
2.2. As per the Circular and the Notice of General Meeting, Shareholders wishing to exercise their Appraisal
Rights (“Dissenting Shareholders”) were required to, inter alia, provide the Company with a written Notice
of Objection before the General Meeting.
2.3. Subsequent to the Results SENS Announcement, the Company received Valid Appraisal Demands from
all Dissenting Shareholders listed in the Results SENS Announcement.
2.4. The Company and some of the Dissenting Shareholders subsequently entered into agreements pursuant
to which the Dissenting Shareholders accepted the offer made by the Company in terms of section 164(11)
of the Companies Act and tendered their Ascendis Health Shares to the Company.
2.5. Accordingly, the Company’s subsidiary, Elixr Brands Proprietary Limited (“Elixr”), has repurchased a total
of 1,215,236 Ascendis Health Shares (“Dissenting Shareholders’ Shares”) from the following Dissenting
Shareholders, at a price of R1.19 per Dissenting Shareholders’ Share (“Purchase Price”):
Registered holder of Number of Number of Total
Ascendis Health Shares Dissenting Dissenting Purchase
Shareholders’ Shareholders’ Price
Shares Shares as a % of issued
Ascendis Health Shares1
Mr Harry Jacobus Smit 480,344 0.10% R571,609.36
Mrs Carli Julyan 420,000 0.09% R499,800.00
Mr Nicolaas Van Der Westhuizen 243,907 0.05% R290,249.33
Ask Internet Technologies Cc 70,985 0.015% R84,472.15
1,215,236 0.255% R1,446,130.84
1. Based on 489,469,959 Ascendis Health Shares in issue.
2.6 The Company’s subsidiary, Elixr, will hold the repurchased Shares as treasury shares.
3. Responsibility Statement
The Board accepts responsibility for the information contained in this announcement as it pertains to Ascendis
Health. To the best of the Board's knowledge and belief, the information contained in this announcement as it
pertains to Ascendis Health is true and nothing has been omitted which is likely to affect the importance of
2 December 2021
Questco Corporate Advisory Proprietary Limited
Date: 02-12-2021 03:45:00
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