Choppies Enterprises in talks for possible sale of Mediland Health Care Distributors Proprietary

Choppies Enterprises in talks for possible sale of Mediland Health Care Distributors Proprietary
Choppies Enterprises in talks for possible sale of Mediland Health Care Distributors Proprietary

The listing requirements of the Botswana Stock Exchange (“BSE”) require Choppies Enterprises Limited (BSM:CHOPPIES) to announce any circumstances or events which have or are likely to have a material effect on the business market or on the price, value or trading of the company’s securities. The Board of Directors of Choppies (“the Board”) informs all shareholders that the Company has entered into discussions regarding the possible sale of 100% of the issued shares of Mediland Health Care Distributors Proprietary Limited (Mediland) for an amount in cash ( “the potential sale”), which, if successfully concluded, could have an impact on the company’s share price. Mediland is engaged in the distribution of diagnostic medical equipment and consumables, as well as the distribution of pharmaceutical products.

The possible sale, which is subject to certain conditions, is consistent with Choppies’ strategic intention to focus on retail. Shareholders are cautioned that there is no certainty at this stage that discussions will result in a formal transaction, although the Consumer and Competition Authority has given its unconditional approval. As a result, shareholders are advised to exercise caution when trading their Choppies shares until a further announcement is made.

The company is listed on the BSE and the JSE.

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