Connor Determined to Make Acurity Takeover Succeed

DATE: 12 DECEMBER 2014

NEWS RELEASE

Connor Determined to Make Acurity Takeover Succeed

Connor Healthcare Limited (Connor) remains determined to make its takeover offer for Acurity Health Group Limited (Acurity) succeed in spite of the Commerce Commission rejecting its initial application for clearance.

Connor said: “We are disappointed but we are not giving up. We are meeting with the Commission today to understand the reasons why it rejected our application and to see if its concerns can be addressed.”

Under the Takeover Code Connor has until the 22nd of December to declare its takeover offer unconditional, otherwise the offer will lapse.

“We are fully aware of the overwhelming shareholder support that we received for our $7.25 a share takeover offer. It would be unfortunate, having got this far, not to be able to complete.” Acceptances exceeded 97% when taken with Connor’s existing holding.

Commerce Commission clearance is the only remaining condition (other than usual conditions).

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About Connor Healthcare

Connor Healthcare is a company established by two existing shareholders in Acurity: Austron Limited and Sydney-based Evolution Healthcare (NZ) Pty Limited (which will own 25% of Connor on completion of the takeover).

Austron is an incorporated joint venture between the Royston Hospital Trust Board and interests associated with the Stewart Family of Christchurch.

Evolution is a leading provider of healthcare services in Australia and New Zealand. Evolution’s focus is to invest in private healthcare facilities, attract and train the best staff and partner with leading medical specialists to offer patients excellence in healthcare. Evolution separately owns and operates Shellharbour Private, South Coast Private, Boulcott, Canberra Private and Waratah Private hospitals.

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