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Advanced Health Limited (JSE:AVL) News - Renewal of Cautionary regarding Presmed Australia's investment in DEVOCLEA
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
RENEWAL OF CAUTIONARY REGARDING PRESMED AUSTRALIA’S INVESTMENT IN DEVOCLEA
Renewal of Cautionary announcement
Shareholders are referred to the detailed terms and cautionary announcements that was released
on SENS on 11 June 2021 and 20 August 2021, and the update announcements released on 30 June
2021 and 8 July 2021 regarding Presmed Australia Pty Limited’s (“PMA”), acquisition of a 20%
interest in the Devonport Eye Hospital (NWC) Pty Ltd (“Devonport Eye Hospital”) and Clearvis Pty
Ltd (“Clearvis”) (collectively “DEVOCLEA”), (the “Transaction”).
The financial accounts for the year ending 30 June 2021, from which the additional Transaction
consideration amount will be determined based on the adjusted EBITDA of DEVOCLEA, are still being
finalised. In terms of the Share Sale Agreement, once the 30 June 2021 financial accounts are
finalised, PMA has three months in which to make payment of the additional Transaction
consideration amount.
Pending the finalisation and announcement of the additional Transaction consideration amount,
shareholders are advised to continue to exercise caution when dealing in the company’s securities
until such further announcement has been released.
Johannesburg
4 October 2021
Designated Advisor
Grindrod Bank Limited
Date: 04-10-2021 09:30:00
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