Life Healthcare Group Holdings Limited has achieved a significant milestone in its strategic move to divest its interests in Alliance Medical Group. In an announcement dated December 8, 2023, the company shared the outcomes of a General Meeting held on December 8, 2023, outlining key developments and progress in the proposed transaction.
Shareholders’ approval was sought for the resolution necessary to authorize and execute the transaction. The ordinary resolution, crucial for advancing the disposal, received overwhelming support. The voting results, detailed in the table below, reflect the robust backing from shareholders:
|Votes Cast (Percentage)
|Number of Shares Voted
|Shares Voted (Percentage of Total Issued Shares)
|Shares Abstained (Percentage of Total Issued Shares)
|Ordinary Resolution – Approval of the Transaction
|100.00% for / 0.00% against
The total number of shares in issue as of the General Meeting record date stood at 1,467,349,162 shares.
Life Healthcare also confirmed that several Conditions Precedent, as defined in the Sale and Purchase Agreement and Circular, have been satisfied. Notable milestones include:
While significant progress has been made, the announcement highlighted that the only outstanding regulatory condition precedent is the Foreign Investment Clearance in Austria. Despite this, the company remains on track, and the Transaction is expected to conclude in the first quarter of 2024.
Life Healthcare Group commits to keeping shareholders and noteholders informed of further developments. A subsequent announcement will be released on SENS, providing details on the fulfillment of the remaining condition precedent and the subsequent implementation of the Transaction.