STILL IN TALKS ON REMEDICA OFFER

ASCENDIS Health said on Friday that the report circulating in the media valuing its subsidiary Remedica at about $400 million (R5.43m) was unsubstantiated, and the Ascendis board was still involved in negotiations with regard to the Remedica offer. The group initially announced on Sens on September 25 last year relating to the strategic review of the Ascendis business, in an announcement that the company had advised its biosciences business unit had been identified as non-core to the longer-term strategy of the company and accordingly identified for divestment. The group said that it was still involved in negotiations regarding the Remedica offer, the outcome of which might have an effect on the price of the company’s shares.

NEW CHIEF EXECUTIVE APPOINTED

THE AUTOMOTIVE Industry Development Centre (AIDC) in Gauteng has appointed Lance Schultz, previously managing director of the AIDC in the Eastern Cape, as chief executive of the centre. Schultz was most recently the chief executive of the Centurion Aerospace Village in Pretoria for four years. He has been part of the AIDC on two previous occasions and was a project manager in Gauteng between 2002 and 2005 and managing director of the AIDC in the Eastern Cape from 2014 until 2015. Schultz, a qualified industrial engineer, previously worked for Mercedes-Benz South Africa for almost a decade and was a the project manager at Nelson Mandela Bay Municipality responsible for the development of the an automotive supplier park in the region.