SIMON SAYS

Finweek English Edition - - INVESTMENT -

from Ci­pla In­dia, which is now look­ing to buy 100% of the lo­cal com­pany at R10/ share. This af­ter an ini­tial in­dica­tive of­fer of 855c for 51% of the com­pany. At the same time, Litha Health an­nounced it was con­sid­er­ing delist­ing the com­pany at a price of 390c. Delist­ing is un­for­tu­nately a func­tion of mar­kets and of­ten de­prives us of qual­ity stocks to in­vest in. re­sults men­tioned th­ese now sold Protea Glen units but also an­other 236 units they were hold­ing and which gen­er­ated a mod­est R4.8m rev­enue. The SENS fur­ther con­firmed that while the com­pany would build ren­tal units, the plan would be to sell them en masse to a third party and hence avoid the man­age­ment chal­lenges of ren­tal as well as the bal­ance-sheet strain. With this in mind the other 236 units are most cer­tainly cur­rently on the mar­ket look­ing for a buyer.

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