Eenhede Konsultante Eiendoms Beperk entered into an agreement to acquire additional 28.87% stake in Advanced Health Limited for ZAR 115 million on June 28, 2023. The offer, set to be executed through a scheme of arrangement, excludes shares held by VC Family Trust, Carl Grillenberger Family Trust, and Pres Medical Witbank Proprietary Limited. The proposed offer consideration stands at 80 cents per Advanced Health share.

If successfully implemented, the scheme will result in Advanced Health?s delisting from the Johannesburg Stock Exchange (JSE). Scheme meeting is to be held on August 25, 2023. Transaction is subject to Advanced Health shareholders and court approval.

BDO has declared the offer fair and reasonable. The independent board also has recommended the offer basis on the opinion of BDO. BDO Corporate Finance Proprietary Limited for a fee of ZAR 350 million acted as a fairness opinion provider, JSE Investor Services (Pty) Ltd for a fee of ZAR 32 million acted as a transfer agent, QuestCo (Pty) Limited acted as a financial advisor for a fee of ZAR 2 billion to Advanced health.