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Geeze. Too hot today to go outside so must bug you guys . Yes jaDEB. Should have listened to you and NPN this year.

Release Date: 19/05/2015 10:45:00      Code(s): OCE     [Email this JSE Sens Item to a Friend]   [Printer Friendly Version]

Announcement regarding the proposed acquisition by Oceana Group Limited of Daybrook Fisheries

OCEANA GROUP LIMITED
 (Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or “the Company” or “the Group”)

ANNOUNCEMENT REGARDING THE PROPOSED ACQUISITION BY OCEANA
OF DAYBROOK FISHERIES, INC. (“DAYBROOK FISHERIES”) AND FURTHER
CAUTIONARY ANNOUNCEMENT


1. INTRODUCTION


   The board of directors of Oceana (“the Board”) is pleased to announce that it has
   concluded an agreement (“the Stock Purchase and Merger Agreement”) to
   acquire indirectly by combination of a merger and stock purchase, the entire
   issued share capital of Daybrook Fisheries for a purchase consideration of
   USD 382.3 million (approximately ZAR 4,588 million) to be satisfied through a
   combination of Oceana cash on hand, term debt facilities (as required), an equity
   bridge facility and United States (“US”) debt (as discussed more fully below) (“the
   Proposed Acquisition")*.


   Daybrook Fisheries is a vertically-integrated fishing company engaged in
   harvesting and processing of Gulf Menhaden into fishmeal and fish oil.


   The Proposed Acquisition is classified as a Category 1 transaction for Oceana
   under the Listings Requirements of the JSE Limited (“JSE”).


  *Unless otherwise noted, all USD figures have been converted at the ZAR/USD
   exchange rate of 12.00, being the hedged forward exchange rate at which the
   Proposed Acquisition is expected to be completed. Capitalised terms used in this
   section have the same meaning as ascribed in the body of this announcement.

ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) (“Aspen Holdings”)
Registration number: 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
and its subsidiaries (collectively “Aspen” or “the Group”)


DIVESTMENT OF PORTFOLIO OF BRANDED AND GENERIC PRODUCTS TO STRIDES ENTITIES

Aspen is pleased to announce that certain of its wholly owned Australian subsidiaries (collectively “Aspen
Australia”), have entered into an agreement with Strides (Australia) Pharma Pty Ltd (“Strides Australia”), a
company incorporated in Australia, in terms whereof Aspen Australia will divest to Strides Australia, a
portfolio of approximately 130 products for a consideration of approximately A$265 million (“the Australian
Transaction”).

The portfolio of products in the Australian Transaction comprises a generic pharmaceutical business
together with certain branded pharmaceutical assets. This portfolio recorded revenue of A$106 million and
a direct contribution to profit before tax of A$26 million for the year ended 30 June 2014.

In a separate transaction, Aspen Global Incorporated (“AGI”), a company incorporated in Mauritius, has
entered into an agreement with Strides Pharma Global Pte Limited (“Strides Singapore”), a company
incorporated in Singapore, in terms whereof AGI will divest to Strides Singapore, a portfolio of six branded
prescription products, for a consideration of approximately US$92 million. This portfolio recorded revenue
of US$12 million and a direct contribution to profit before tax of US$10 million for the year ended
30 June 2014.

Strides Australia and Strides Singapore are wholly owned subsidiaries of Strides Arcolab Limited (“Strides”),
a pharmaceutical company headquartered and publicly listed in India. Strides have a key focus on the
development and manufacture of IP-led, niche pharmaceuticals products.

These transactions form part of Aspen’s communicated strategic intent to focus attention in areas where
most value can be added and to lessen complexity.

The transactions are conditional upon, inter alia, the approval of the Australian Foreign Investments Review
Board.


Durban
21 May 2015

You and my wife have something in common. Expensive taste! 

Bloomberg and Reuters


African Bank Investments Limited (Abil), which collapsed in August, said that instead of trying to arrange an initial public offering next year, a share sale may be years away.

“The curator anticipates that the new entity will require several years of trading in order to build up a track record which will be acceptable to potential investors before it can be listed” on the JSE, Abil treasurer Gavin Jones, said yesterday

AVL : PE 55         Results date Approximate : 29 Sept / 24 Feb
APN : PE 30         Results date Approximate : 10 Sept / 4 Mar
OCE : PE 17         Results date Approximate : 6 Nov / 26 May
NPN : PE 103       Results date Approximate : 23 Jun / 25 Nov

Frikkie but it is cold

POrtf Update

Port 1:

APN - 17%
NPN - 49%
OCE - 26 %

POrt 2 :

AVL - 96%