UNIVERSAL PARTNERS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 138035 C1/GBL)
SEM share code: UPL.N0000
JSE share code: UPL
ISIN: MU0526N00007
(“Universal Partners” or “the Company”)


         DISPOSAL OF INTEREST IN DENTEX HEALTHCARE GROUP LIMITED (“DENTEX”)


Shareholders are advised that Dentex’s shareholders have entered into definitive transaction agreements
with Portman Dental Care (“Portman”) resulting in a merger of Dentex with Portman (the “Transaction”).
The Transaction will result in the disposal of the Company’s entire shareholding in Dentex which will be
settled through a combination of cash and shares in the merged business. The Transaction is subject to
approval from the Competition and Markets Authority (“CMA”) in the United Kingdom (“UK”). The expected
timing of completion of the Transaction is during the first half of 2023. Further information relating to the
Transaction will be communicated in due course.

About Portman
Portman was founded in 2009 by the CEO Sam Waley Cohen and is the largest private dental consolidator
in the UK with a growing presence in Europe. Core Equity Holdings acquired Portman in 2018 and has
grown the business to over 200 practices.

About Dentex
Dentex is a consolidation platform focused on private dentistry in the UK. Universal Partners invested in
Dentex in 2017, the year after it was founded when it owned 3 practices. With the support of Universal
Partners and other shareholders, Dentex has grown to over 130 practices and is a highly-respected player
in the UK dental market with its unique co-ownership partner model. Dentex has a strong management
team led by CEO, Barry Lanesman.

The merged entity will form the largest privately focused dental group in the UK and be one of Europe’s
pre-eminent dental platforms, with operations currently in 5 European countries and plans to expand further
in future. In combination, the multi award winning groups will operate in excess of 350 practices, with more
than 2,000 clinicians and more than 4,000 employees and provide dental care for over 1.5 million patients
per year.

Dentex’s senior management will be remaining with the new combined business with Barry Lanesman
continuing in his role as Dentex CEO.

In the short term, the Transaction will not have a material effect on the current valuation of Dentex as
reflected in the Company’s accounts. However, as the Transaction progresses to completion, an increase
in the value of Dentex is likely.

Shareholders are therefore advised to exercise caution when dealing in the Company’s securities until a
detailed announcement relating to the Transaction is issued by the Company.

The Transaction constitutes an undertaking in the ordinary course of business of Universal Partners and
therefore does not fall under the scope of Chapter 13 of the Listing Rules of the Stock Exchange of Mauritius
Ltd (“SEM”).

Universal Partners has its primary listing on the Official List of the SEM and a secondary listing on the
Alternative Exchange of the Johannesburg Stock Exchange.
By order of the Board

25 August 2022

For further information, please contact:

                                   SEM Authorised Representative
         JSE Sponsor                                                        Company Secretary
                                           and Sponsor




     Tel: +27 11 722 3050                  Tel: +230 402 0890
                                                                             Tel: +230 403 0800

This notice is issued pursuant to the SEM Listing Rule 11.3 and the JSE Listings Requirements. The Board
of Universal Partners accepts full responsibility for the accuracy of the information contained in this
announcement.