Try our mobile app
Advanced Health Limited (JSE:AVL) News - Sixth addendum to Credit Facility Agreement with a Related Party
ADVANCED HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/059246/06)
(“the Company” or “Advanced Health”)
ISIN Code: ZAE000189049 JSE Code: AVL
SIXTH ADDENDUM TO CREDIT FACILITY AGREEMENT WITH A RELATED PARTY
1 INTRODUCTION AND BACKGROUND TO THE CREDIT FACILITY
Shareholders are referred to the previous announcements relating to the Credit Facility
Agreement and Pledge and Cession Agreement entered with Eenhede Konsultante
(Proprietary) Limited (“Eenhede Konsultante”) in November 2017, as well as the five
subsequent addendums to the Credit Facility Agreement and the Pledge and Cession
Agreement in 2018, 2019 and 2020, respectively.
2 SIXTH ADDENDUM TO THE CREDIT FACILITY AGREEMENT
The Company and Eenhede Konsultante has entered into a sixth addendum to the Credit
Facility Agreement, which extends the repayment date of the facility from 30 April 2022 to 30
April 2023.
The other terms of the Credit Facility Agreement and the Pledge and Session Agreement
remains the same as previously disclosed.
3 RELATED PARTY TRANSACTION
Eenhede Konsultante is an associate company of Mr. Carl Alfred Grillenberger, the Chairman
and majority shareholder of the Company, with an indirect beneficial interest of 71.1%,
through Eenhede Konsultante together with Pres Medical Witbank, Carl Grillenberger Family
Trust and the VC Family Trust. Eenhede Konsultante is therefore a related party to the
Company as defined in Section 10 the JSE Listings Requirements.
4 CATEGORISATION OF THE TRANSACTION
Pursuant to the amendments to the scope of section 10 of the JSE Listings Requirements read
with section 21, the Addendum of the Credit Facility is categorised as small, related party
transaction for AltX issuers and therefore, is not subject to Advanced Health shareholder
approval and a fairness opinion is not required.
Johannesburg
29 April 2022
Designated Advisor
Grindrod Bank Limited
Date: 29-04-2022 10:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
