Johannesburg – Ascendis Health shareholders today voted overwhelmingly in favour of the proposed group recapitalisation, paving the way for the implementation of the transaction to settle debt of approximately €444 million (R7.7 billion) owed to senior lenders.
October 5, 2021
A total of 98.5% of shareholders voted in favour of the recapitalisation, exceeding the required 75% threshold. Shareholders representing over 47% of the company’s issued shares voted at the general meeting. Shareholders also supported the transactions for the disposal of the Animal Health and Respiratory Care Africa (RCA) businesses. If shareholders had not supported the […]
Johannesburg – Ascendis Health delivered a stronger operational performance in the year to June 2021 as normalised EBITDA from total operations rose 18% to R1.45 billion.
September 30, 2021
Normalised EBITDA from continuing operations, which excludes the assets earmarked for sale, increased by 120% to R14 million from -R70 million last year. However, rising debt levels, restructuring costs and higher finance charges contributed to the group reporting a loss after tax from continuing operations of R1.6 billion. The results release comes days ahead of […]
Transaction fair and reasonable to shareholders says independent expert
August 31, 2021
Johannesburg – Ascendis Health (JSE: ASC) has concluded a final agreement with its participating senior lenders for the implementation of the group recapitalisation transaction to settle outstanding debt of approximately €444 million (R7.7 billion). The agreement sets out the binding terms and conditions for the implementation of the group recapitalisation. PSG Capital, appointed as the […]
Johannesburg - Ascendis Health today announced the appointment of Mark Sardi as chief executive officer and an executive director with effect from 14 October 2019. Sardi (50) joins the healthcare group from House of Busby where he has been CEO since 2014.
September 2, 2019
Ascendis Health chairman Andrew Marshall said: “Mark has held senior leadership positions in investment banking, the pharmaceutical industry and the retail sector, and has a strong track record in strategic, operational and financial management in large listed and unlisted companies. “He has demonstrated his leadership ability in turning around complex organisations and is experienced in […]
Johannesburg – Health and wellness group Ascendis Health is to sell the Efekto, Marltons and Afrikelp businesses within Ascendis Biosciences in a management buy-out led by RMB Ventures and Nedbank Private Equity for R480 million
May 2, 2019
The sale forms part of Ascendis Health’s divestment of non-core assets and businesses announced in September 2018. Chief executive officer Thomas Thomsen said: “Following our strategic business review last year the Biosciences division was considered as non-core to the group’s strategy and was identified for sale. While these Biosciences businesses are performing well, they serve […]