08 Jul - 2 min read

Update Announcement regarding Presmed Australia’s investment in DEVOCLEA

Update Announcement regarding Presmed Australia’s investment in DEVOCLEA

 (Incorporated in the Republic of South Africa)
 (Registration number 2013/059246/06)
 (“the Company” or “Advanced Health”)
 ISIN Code: ZAE000189049        JSE Code: AVL


 Transaction update
 Shareholders are referred to the detailed terms and cautionary announcement that was released
 on SENS on 11 June 2021 and the update announcement released on 30 June 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”).

 Shareholders are advised that all the conditions precedents were fulfilled on 7 July 2021.

 Profit and Net Asset Values attributable to DEVOCLEA
 The net assets of DEVOCLEA as per the unaudited financial statements for the 12 months ended 30
 June 2020, were AUD 1,575,126 (approximately ZAR16 341 302). The profit before tax attributable
 to the net assets of DEVOCLEA for the same period were AUD 2,081,638 (approximately ZAR21 596

 The unaudited annual financial statements for DEVOCLEA were prepared in accordance with
 Australian Accounting Standards and Interpretations.

 Renewal of cautionary announcement
 As previously advised, the additional Transaction consideration amount will be disclosed in a further
 SENS announcement, once it has been determined.

 Pending the finalisation 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.

8 July 2021

Designated Advisor
Grindrod Bank Limited

Date: 08-07-2021 09:30:00
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