The Company is pleased to announce that it has agreed to acquire 100% shares of Phekolong Pharmaceuticals Pty Ltd a wholly owned subsidiary company of Pharmacare Ltd. t/a Aspen Pharmacare South Africa subject to completion of conditions precedent by way of cash consideration of ZAR 75 000 (Seventy-five thousand South African Rands). The acquisition is expected to be completed by end of November 2019.
At the conclusion of the transaction all residual assets and liabilities that are within the target company immediately prior to completion will be for Pharmacare Limiteds account and accordingly all such assets and liabilities will be transferred from the target company to Pharmacare Limited immediately prior to completion.
A press release to this extent is also attached for your information and records.
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