Zenitas Healthcare Limited Implementing The New Arrangement

  • Dec 12, 2018 AEDT
  • Team Kalkine
Zenitas Healthcare Limited Implementing The New Arrangement

As approved by the company’s shareholders on 14 November 2018 and the Supreme Court of Victoria (Court) on 16 November 2018 the scheme of arrangement between Zenitas and its shareholders has been implemented. Guardian Alphabet Pty Ltd’s wholly owned subsidiary Zenitas has resulted in which in turn is controlled by funds managed or advised by Liverpool Partners Guardian GP Pty Ltd. and funds managed or advised by Adamantem Capital Management Pty Ltd.

The company’s shareholders have been paid $1.445 cash per Zenitas share as consideration for the transfer of Zenitas shares to BidCo who held shares on the record date of 5.00pm on Friday 7 December 2018. ZNT has paid to each option holder an amount equal to $1.445 less the exercise price of the ZNT option as consideration for the cancellation of all existing ZNT options on the issue as at close of trading on 13 December 2018 on ASX.

About the remaining 49% of NexttCare Pty Ltd, funded from the company’s existing debt facilities for the remaining 49% of NexttCare, the company has advised the settlement of the acquisition and the acquisition price was $14.7M plus transaction costs. As instructed by the company under Listing Rule 17.11, the company will be removed from the Official List of ASX Limited from the close of trading on Thursday, 13 December 2018. In connection with the acquisition of all the issued capital in ZNT by Guardian Alphabet Pty Ltd. following implementation of the scheme of arrangement between ZNT and its shareholders.

The stock of Zenitas Healthcare Limited (ASX: ZNT) is currently under the suspended status and last traded at a market price of $1.440 under the health care sector. The company has a performance change of 19.50% over the past 12 months and 37.80% in the last six months. The number of shares issued was at 74.4 million.


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