VISION EYE INSTITUTE LTD Dear Sir/Madam,
We act for Jangho Group Co., Ltd (Jangho).
On behalf of Jangho, we attach a press release in relation to Jangho Group's takeover offer for Vision Eye Institute Limited (ASX:VEI).
Yours faithfully
Level 23 Rialto Towers 525 Collins Street Melbourne VIC 3000 Australia DX 204 Melbourne
ME_125312547_1 (W2007)
PRESS RELEASE
For immediate release
OFFER UNCONDITIONAL AND FINAL
takeover bid for all of the ordinary voting shares in Vision Eye Institute Limit
d (Offer and Vision
respectively), made by Jangho's wholly owned Australian subsidiary, Jangho Health Care Australia Pty Ltd (Bidder).
Jango is pleased to announce that the remaining condition to the Offer has now been fulfilled, being the condition that the Bidder has a relevant interest in greater than 50% of the ordinary voting shares in Vision on a fully diluted basis by the end of the Offer period (50% condition). The Bidder currently holds voting power in Vision of 50.17%. A formal notice confirming the fulfillment of the 50% condition accompanies this announcement.
Accordingly, the Offer is now unconditional.
The Bidder also reaffirms the following matters announced on 1 October 2015:
its Offer of $1.10 cash per Vision Share (reduced by $0.025 per Share for the FY15 Final Dividend declared by Vision) is now final as to price and will not be increased, subject only to no competing proposal for Vision being publicly announced; and
it has no present intention to extend the closing date of the Offer, being 7.00pm (Melbourne time) on Wednesday, 21 October 2015, but reserves its right to do so.
As the Offer is now unconditional and final, Vision shareholders should accept the Offer
promptly. Vision shareholders are urged to accept the Offer without delay to ensure that theiracceptance is received by Computershare before the Offer is due to close a time) on Wednesday, 21 October 2015.
7.00pm (Melbourne
To accept the Offer, complete the Acceptance Form that accompanied your copy of the Bidder's Statement in accordance with the instructions on it and return it by using the enclosed pre- addressed envelope so that it is received before the Offer closes.
If your Vision Shares are held in CHESS (Holder Identification Number prefixed with 'X'), you can also accept the Offer by directly instructing your controlling participant (usually your stockbroker) to accept the Offer on your behalf.
You may only accept the Offer for all of your Vision Shares. Acceptances must be received before the Offer closes at 7.00pm (Melbourne time) on Wednesday, 21 October 2015, unless the Offer is extended or withdrawn.
If you have any questions about the Offer or require assistance with accepting the Offer please contact the Jangho Offer Information Line on 1300 374 107 (toll free within Australia) or +61 3 9415 4110 (not toll free) from outside Australia
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Commenting on today's developments in relation to the Offer, Jangho's Chairman Mr Zai Wang Liu said:
'Jangho is pleased with the strong support already received for the Offer. Now that the Offer is unconditional and Jangho's interest is above 50%, Jangho looks forward to successfully completing the Offer so we can progress our plans to further develop Vision's leading ophthalmology business and to work with Vision's committed management team and high calibre doctors.'
For media enquiries, please contact: Wang Peng
Company Secretary Jangho Group Co., Ltd
+86 (10)6041 1166 ext 8808
Email: wangpeng@jangho.com
Jangho is listed on the Main Board A of the Shanghai Stock Exchange (Stock Code: 601886). Jangho was established in 1999. Headquartered in Beijing, Jangho Group is a large-scale multinational enterprise of facade solutions which integrates R&D, engineering and design expertise, precision manufacturing, installation, consultancy, and product export for domestic and foreign markets. Jangho is in the top 500 Public Listed Enterprise and the top 500 Private Owned Enterprise in China. Jangho is actively participating in exploring new industries with focus on online business platforms, medical and health as well as PPP projects.
Vision is Australia's largest provider of ophthalmic care, diagnosing and treating people with eye disorders and diseases. Vision provides services to doctor partners, associates, and visiting surgeons, offering a broad range of services including specialist eye care in the areas of corneal surgery, refractive surgery, cataract surgery, ocular plastics, glaucoma treatment and surgery, vitreo-retinal surgery, and treatment for macular degeneration. Vision is a public company listed on the Australian Securities Exchange (ASX Code: VEI).
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To: Vision Eye Institute Limited ABN 21 098 890 816 (Vision) ASX Limited
In relation to the takeover offers made under the bidder's statement dated 7 September 2015 (Bidder's Statement) by Jangho Health Care Australia Pty Ltd ACN 608 040 802 (Bidder) for all of the ordinary voting shares in Vision (Offers), the Bidder gives notice that the sole remaining condition set out in paragraph 2 of Appendix 2 to the Bidder's Statement (minimum acceptance) is now fulfilled.
Date: 7 October 2015
Signed for and on behalf of Bidder by
Mr Guoqing Tao Director
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