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The unissued ordinary shares are under the control of the

Death:

directors of the Company until the next annual general meeting of

Muzi Buthelezi deceased December 2005

shareholders. Resignation:

Acquisition of businesses

Werner van Rensburg resigned 8 May 2006

The material acquisitions entered into by Aspen during the year are set out below:

The names of the directors in office at the date of this report are set

• With effect from 1 January 2006, Aspen entered into joint venture

out on pages 46 and 47. The name and address of the Secretary of

transactions with Matrix in terms of which:

the Company is set out on page 143.

– Matrix acquired 50% of FCC from Aspen for USD 20 million. – Aspen acquired 50% of Astrix, a specialist ARV API producer in India for USD 36,5 million.

In terms of the company’s Articles of Association, MR Bagus, JF Buchanan, P Dyani, CN Mortimer and S Zilwa retire at the

• With effect from 1 May 2006, Aspen acquired 50% of Generix International (Pty) Ltd (“Generix”), and Brimchem SA (Pty) Ltd, for

forthcoming annual general meeting and, being eligible, offer themselves for re-election.

a purchase consideration of R40 million, as well as a contingent consideration which has not yet been quantified. This will be

The Group Chief Executive and the Deputy Group Chief Executive

based on an agreed formula.

are employed on indefinite term service contracts, subject to 6-month notice by either party.

These transactions have been funded out of existing cash

Directors’ interests in Aspen shares

resources.

Shares under option offered to and accepted by executive directors

Directorate and secretary

in terms of the Aspen Pharmacare Share Incentive Scheme

The following changes in the directorate occurred during the year

and the Medhold Share Incentive Scheme totalled 1 700 000

under review and to the date of this report:

(2005: 7 500 000) as follows:

Appointments: Pasco Dyani appointed 14 February 2006 Sindi Zilwa appointed 1 September 2006

SB Saad MG Attridge SB Saad MG Attridge W van Rensburg*

Exercise price Expiry (R) date 3,58 Oct 2007 3,58 Oct 2007 9,20 Aug 2011 9,20 Aug 2011 13,55 Aug 2012

Options outstanding Options on granted 30 June during the 2005 year (’000) (’000) 2 500 — 2 500 — 1 000 — 1 000 — 500 — 7 500 —

Options lapsed/ Options cancelled exercised during the during the year year (’000) (’000) — (2 500) — (2 500) — (200) — (200) (400) — (400) (5 400)

* Resigned May 2006.

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Aspen Annual Report 2006

Options outstanding on 30 June 2006 (’000) — — 800 800 100 1 700

Vested (’000) — — — — — —

Nonvested (’000) — — 800 800 100 1 700

Profile for Aspen Holdings

Aspen Annual Report 2006  

Aspen Annual Report 2006