Adcock Ingram Holdings (JSE:AIP) News - Acquisition of ordinary shares from a wholly-owned subsidiary

Adcock Ingram Holdings Limited
Incorporated in the Republic of South Africa
(Registration Number: 2007/016236/06)
JSE Share Code: AIP ISIN: ZAE000123436
(“Adcock Ingram Holdings” or the “Company”)

ACQUISITION OF ORDINARY SHARES FROM A WHOLLY-OWNED SUBSIDIARY

Shareholders are advised that the Company acquired 6 000 000 (six million) ordinary shares (the “Shares”),
which equates to 3.41% (three point four one per cent) of the Company’s issued share capital, from its wholly
owned subsidiary, Adcock Ingram Limited (the “Subsidiary”) on 29 March 2022 for a total consideration,
determined using the market price, of approximately R316 740 000 (Three hundred and sixteen million, seven
hundred and forty thousand rand), equating to approximately R52.79 (Fifty two rand and seventy nine cents)
per ordinary share (“Repurchase Transaction”). The Subsidiary had previously repurchased the Shares in
accordance with general authorities granted by shareholders at the Company’s annual general meetings held
on 27 January 2011, 22 November 2019 and 25 November 2020 respectively (“General Meetings”) and the
Shares had since been held as treasury shares.

The Company confirms that:

 1.     The Repurchase Transaction is regarded as a repurchase of shares as contemplated in section 48 of
        the Companies Act 71 of 2008, as amended (the “Companies Act”) and there has been full
        compliance with all aspects of the Companies Act. The repurchased Shares will be restored to the
        status of authorised but unissued shares in accordance with section 35(5) of the Companies Act.

 2.     The Repurchase Transaction will have no impact on the financial position of the Adcock Ingram Group
        (“Group”) and is cash neutral for the Group, as no funds will leave the Group.

Following the Repurchase Transaction, the Company will apply to the JSE Limited for the delisting of the
Shares.

Following the Repurchase Transaction, delisting and cancellation of the Shares, the Company, through the
Subsidiary, will still hold 8 000 000 (eight million) ordinary shares in treasury.


Midrand
30 March 2022

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 30-03-2022 03:00:00
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