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Aspen is in a closed period from 1st January 2026 until the publication of the interim results on the JSE SENS platform on the 3rd March 2026.

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Acquisition of Sigma Pharmaceuticals Limited by Aspen

By : Shauneen Beukes ASPEN PHARMACARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1985/002935/06) Share code: APN ISIN: ZAE000066692 (“Aspen”) ANNOUNCEMENT REGARDING THE ACQUISITION OF THE PHARMACEUTICAL BUSINESS OF SIGMA PHARMACEUTICALS LIMITED (“SIGMA”) BY ASPEN 1. INTRODUCTION Aspen shareholders are referred to the detailed cautionary announcement released on the Securities Exchange News Service of the JSE Limited (“SENS”) on 21 May 2010, and to the related renewal and further cautionary announcements dated 7 July 2010 and 12 July 2010, respectively (“Cautionary Announcements”). Subsequent to the completion by Aspen of the due diligence process referred to in the Cautionary Announcements, Aspen Global Incorporated (“Aspen Global”), a 100% owned subsidiary of Aspen, submitted, to the Board of Directors of Sigma (“Sigma Board”), an offer (“Subsequent Offer”) to acquire the pharmaceutical business conducted by Sigma (“Pharmaceutical Business”) on a debt-free basis for a cash consideration of A$900 million (approximately ZAR5 871 million ). The Subsequent Offer, which the Sigma Board has undertaken to support, is subject to limited conditions precedent as detailed in paragraph 4.4 below. 2. DESCRIPTION OF SIGMA AND THE BUSINESS Sigma is a leading Australian Securities Exchange (“ASX”) listed Australian manufacturer and marketer of prescription, over-the-counter (“OTC”) and generic pharmaceutical products as well as a wholesale distributor of pharmaceutical and consumer products. The Pharmaceutical Business consists of the manufacture and marketing of pharmaceutical products. It has an extensive product portfolio comprising many well-known and trusted Australian brands which recorded sales revenue of A$671 million in the year to 31 January 2010. The generics range has approximately a 25% share of the growing Australian generics sector. The Pharmaceutical Business is also Australia’s largest pharmaceutical manufacturer. For further details on the Pharmaceutical Business, Aspen shareholders are referred to www.sigmaco.com.au. 3. RATIONALE FOR THE SUBSEQUENT OFFER Aspen has an existing operation in Australia (“Aspen Australia”), marketing and distributing pharmaceutical and consumer products. Established in 2001, Aspen Australia has an excellent record of growth with revenue of approximately A$180million recorded in the year to 30 June 2010. Aspen Australia’s success has been achieved by sound management supported by an outstanding team which has consistently built Aspen’s product offering and reputation in Australia. The implementation of the Subsequent Offer creates the following opportunities: Synergies arising out of the consolidation of Aspen Australia and the Pharmaceutical Business; An established point of entry to the Australian generics and OTC sectors for the introduction of Aspen’s pipeline of generic and OTC products; Strengthening Aspen’s position in the Australian market which will form the foundation for further development of Aspen’s business in the Asia Pacific region; and Incorporation of Australian manufacturing presence into Aspen’s global manufacturing capabilities. Aspen Global’s initial approach to Sigma referred to in the Cautionary Announcements was for the acquisition of the entire business of Sigma, including the wholesale business. The Subsequent Offer means that Sigma will continue as an ASX listed company focused on the wholesaling business. The construction of the Subsequent Offer was framed after lengthy engagement with Sigma and recognizes that Sigma possesses the critical skills to optimize the performance of the wholesaling business, an activity in which Aspen does not have past experience. Furthermore, the consideration received by Sigma for the Pharmaceutical Business will allow it to establish a firm capital base from which to ensure an efficient business model. In recognition of this, the Pharmaceutical Business will commit to a long term supply, distribution and logistics arrangement with Sigma. 4. DETAILS OF THE SUBSEQUENT OFFER 4.1 Terms of the Subsequent Offer In terms of the Subsequent Offer, Aspen Global, or an entity nominated by Aspen Global, will acquire the Pharmaceutical Business, by acquiring either the business conducted by the Pharmaceutical Business or the shares in the subsidiaries of Sigma that carry on the Pharmaceutical Business and/or hold assets of the Pharmaceutical Business, or a combination of the aforementioned, for a cash consideration of A$900 million (approximately ZAR5 871 million1) on a debt-free basis. In terms of the Subsequent Offer, Sigma, which has agreed to deal exclusively with Aspen until 15 October 2010, will also accept a non-compete clause with the Pharmaceutical Business for a period of two years. 4.2 Funding The Subsequent Offer will be funded out of Aspen’s available cash resources as well as cash to be raised from its bankers. 4.3 Effective date The effective date of the implementation of the Subsequent Offer will be upon completion of the conditions precedent. 4.4 Conditions precedent The completion of the Subsequent Offer is subject to the satisfactory conclusion of limited conditions precedent which are normal for a transaction of this nature, including: conclusion of a Business and/or Share Purchase Agreement between Aspen and Sigma; all requisite regulatory approvals; and the approval of Sigma shareholders. 5. PRO FORMA FINANCIAL EFFECTS The unaudited pro-forma financial effects set out in the table below have been prepared to assist Aspen shareholders to assess the impact of the Subsequent Offer on the earnings per share (“EPS”) and headline EPS (“HEPS”) for the 6 months ended 31 December 2009, and the net asset value (“NAV”) per Aspen ordinary share as at 31 December 2009. The pro-forma financial effects have been prepared for illustrative purposes only and because of their nature, may not fairly present the effects of the Subsequent Offer on Aspen’s results of operations for the 6 months ended and the financial position at 31 December 2009. The Pharmaceutical Business results used are for the 6 months ended 31 January 2010. The Directors of Aspen are responsible for the preparation of the financial effects, which have not been reviewed by the auditors. Pre-adjustment For the six months ended 31 December 2009 Post-adjustment For the six months ended 31 December 2009 Actual “Before” (cents) (1,3,8) Pro-forma “After” the Subsequent Offer (1,2,4,6,7) (cents) % Change2 Actual “Before” (cents) (1,3,8) Pro-forma “After” the Subsequent Offer (1,2,5,6,7) (cents) % Change2 EPS 240.58 (134.36) (155.8) 240.58 252.54 5.0 HEPS 242.32 (132.61) (154.7) 242.32 254.28 4.9 NAV 2,192.98 2,192.98 0.0 2,192.98 2,192.98 0.0 Notes: 1. Extracted from… Continue reading Acquisition of Sigma Pharmaceuticals Limited by Aspen

Aspen Sigma SENS Cautionary Renewal

Aspen Pharmacare Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1985/002935/06) Share code: APN ISIN: ZAE000066692 (“Aspen”) Renewal of detailed cautionary announcement Aspen shareholders are referred to the detailed cautionary announcement dated 21 May 2010 and are advised that Aspen Global Incorporated (“Aspen Global”) has submitted to Sigma Pharmaceuticals Limited (“Sigma”), a confirmed offer to acquire the whole of Sigma (the “Transaction”) for cash at a price per Sigma share of A$0.55 (approx. ZAR3.58)1 (the “Offer”) which implies an equity value of A$648 million (approx. ZAR4 219 million)1 based on 1,178.6 million Sigma shares outstanding. Aspen has proposed that the Transaction be executed via a scheme of arrangement. The Offer is also subject to numerous conditions precedent, including the satisfactory completion by Aspen of a final due diligence investigation, the conclusion of a scheme implementation agreement and fulfillment of all necessary regulatory approvals. Aspen shareholders are referred to the announcement released today by Sigma, which is available at the ASX website www.asx.com.au. Accordingly, Aspen shareholders are advised to continue to exercise caution when dealing in Aspen shares until a further announcement is made. 1 Based on AUD/ZAR exchange rate of 0.1536 as at 7 July 2010 (Source: Bloomberg). Woodmead 7 July 2010

Aspen and Strides restructure Oncology arrangements

Aspen Pharmacare Holdings Limited (“Aspen”), listed on the JSE, South Africa (share code APN) and Strides Arcolab Limited, today announced a restructuring of their arrangements relating to the two oncology joint ventures (“JVs”) between Aspen and Strides, Onco Therapies Limited (“OTL”), India and Onco Laboratories Limited (“OLL”), Cyprus. The transactions The following are the material terms of the restructuring: a) Aspen Global Incorporated will sell its 50% ownership in the Oncology JVs to Strides for a consideration of USD 117 million; b) Strides will license the existing and future oncology products to Pharmacare Limited, an Aspen Group company, for certain territories; c) The effective date of the above transactions is the first day of the month following the fulfillment of the conditions precedent which include, inter alia, the approval of the Exchange Control Department of the Reserve Bank of South Africa; d) The payment terms are based upon certain future milestones with an outside date for settlement of all outstanding amounts by 30 April 2011. Rationale The transactions signal the strategic intent of Aspen and of Strides in the oncology market. The transactions compliment Aspen’s focus on sourcing differentiated products for supply through its international distribution network which reaches approximately 100 countries worldwide. Aspen already has a developing oncology business in most of these territories. Central to the Strides strategy is the enhancement of its manufacturing and development capabilities in its Specialties business. To this end, Strides has built capacities in facilities and development. This includes the establishment of world class sterile assets in India, Europe, the recent acquisition of the Campos facility in Brazil, and taking over full ownership of the Oncology JVs. The value of these assets has been demonstrated by the attraction of numerous leading pharmaceutical partners, including multinationals. Stephen Saad, Aspen Group Chief Executive said: “Through these agreements we continue to build on the strong partnership we enjoy with Strides. Each party now does what they do best. Our focus is commercialisation of these niche products in our territories. Aspen has and is building its own oncology product franchise. The existing and future pipeline of products from the Strides Group will be an important contributor in achieving this objective. There is a clear definition now of responsibilities and focus. The close association forged over the last decade continues. We believe that these transactions, together with their current expertise, leave Strides well positioned in their endeavours to grow their global sterile business.” Arun Kumar, Vice Chairman and Group CEO of Strides said “While the restructuring of the oncology arrangements with Aspen provides Strides greater focus and ownership of a key domain in our specialties division, we are delighted to strengthen our existing strong partnership with Aspen by entering into a licensing agreement in territories where Aspen has established distribution.” Issued by: Shauneen Beukes, Shauneen Beukes Communications Tel: +27 12 661-8467 : Cell: +27 82 389 8900 On Behalf Of: Stephen Saad, Aspen Holdings Group Chief Executive Tel: +27 31 580-8602 Gus Attridge, Aspen Holdings Deputy Group Chief Executive Tel: +27 31 580-8604 Roshni Gajjar, Aspen Investor Relations Manager Tel: +2731 580-8649; Cell: +27 82 789 1826 About Aspen Aspen, a Top 40 company listed on the Johannesburg Stock Exchange, is Africa’s largest pharmaceutical manufacturer and one of the Top 20 generics manufacturers worldwide. Aspen is a supplier of branded and generic pharmaceuticals in approximately 100 countries across the globe and of consumer and nutritional products in selected territories. Aspen has 15 pharmaceutical manufacturing facilities at 10 pharmaceutical manufacturing sites on five continents. Aspen has production capabilities for tablets, capsules, steriles, injectables, penicillins, penems, liquids, creams and infant milk formulations. For more than 150 years, Aspen has been providing high-quality, affordable products to its customers. Aspen’s has a robust pipeline of generic products which are developed under the direction of highly skilled scientists employed by Aspen and in collaboration with other global pharmaceutical research and development companies. Strides Arcolab Limited: Leadership Through Partnering Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen in India and has a marketing presence in more than 60 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore. Additional information is available at the company’s website at www.stridesarco.com.

Aspen raises profits by 31% as South African business shines

Johannesburg – JSE listed Aspen (Apn), Africa’s largest pharmaceutical manufacturer, has recorded strong returns for the six months ended 31 December 2009. The excellent performance from the South Africa business underpinned the results. Group Performance: Group revenue increased by 10 percent to R4.576 billion (R4.142 billion). Group operating profit increased by 16 percent to R1.314 billion (R1.136 billion). Group headline earnings per share (HEPS) from continuing operations increased by 27 percent to 242.3 cents (193.8 cents). Group profit after tax from continuing operations increased by 31 percent to R889 million (R690 million). Stephen Saad, Aspen Group Chief Executive said “the excellent performance recorded by the South African business was driven by robust volume growth and margin improvements. Revenue growth in the international business is attributed to gains from Global brands, the Asia Pacific domestic brands, the oncology business and from the Glaxosmithkline (“GSK”) transactions.” Completion of the GSK transactions: With effect from 1 December 2009, Aspen completed a series of strategic, interdependent transactions with GSK (“the GSK transactions”) which had been announced on 12 May 2009. The GSK transactions comprise: The acquisition of the rights to distribute GSK’s pharmaceutical products in South Africa; The formation of a collaboration agreement between Aspen and GSK in relation to the marketing and selling of prescription pharmaceuticals in sub-Saharan Africa; The acquisition by Aspen Global of eight specialist branded products (Alkeran, Leukeran, Purinethol, Kemadrin, Lanvis, Myleran, Septrin and Trandate) for worldwide distribution; The acquisition of GSK’s manufacturing facility in Bad Oldesloe, Germany; and The issue by Aspen of 68.5 million ordinary shares to GSK at R66.80 per share amounting to a total value of R4.576 billion. South African Business: The South African business maintained its leadership position across the private and public sectors of the pharmaceutical market and grew revenue by 23% to R2.550 billion. Operating profit from the South African business increased from R484 million to R806 million. Other operating income includes an amount of R145 million received as insurance compensation for loss of profits and asset replacement arising from the explosion which occurred at the Nutritionals Facility in August 2009. Profit margins improved after the contractions in the previous two years caused by a weak Rand and delays in the passing of an increase to the SEP in the private pharmaceutical market. The pharmaceutical division led growth in the South African business with revenue rising 30% to R1.975 billion. Aspen’s robust growth in pharmaceuticals was characterised by volume gains across the extensive product offering. . The consumer division increased revenue by 6% to R575 million. This credible performance was recorded despite the prevailing recessionary effects in the retail environment as well as the negative impact on sales of infant milk formula due to the temporary unavailability of certain products resulting from the damage incurred at the Nutritionals Facility. The Group’s South African manufacturing facilities achieved impressive efficiency gains as the benefits of the significant capital expenditure programme of the last few years begin to be realised. The second Oral Solid Dose Facility and the eye-drop suite of the Sterile Facility commenced production at the Port Elizabeth-based site. The hormonal suite of the Sterile Facility is scheduled to commence commercial production before the end of the 2010 financial year. Capital projects in progress include the addition of increased tableting capacity and the installation of suppository and dutch medicines manufacturing at the East London site. Reconstruction of the drying tower at the Nutritionals Facility is well advanced and production is expected to recommence within the next six months. Sub-Saharan Africa Business: In anticipation of the future materiality of this region, Aspen has established a separate management and reporting structure for the sub-Saharan Africa business. Included in this business segment are exports into sub-Saharan Africa from South Africa, the Shelys Africa business based in East Africa and the GSK Aspen Healthcare for Africa collaboration. Revenue from the sub-Saharan Africa business declined from R464 million in the prior period to R279 million and operating profit decreased from R99 million to R45 million. The steep reversal in results was due to export business lost through the genericisation of patented ARV molecules marketed by Aspen. Sales by Shelys Africa were also reduced as this business shed low margin tenders in accordance with the strategic plan for the operation, without affecting profits. GSK Aspen Healthcare for African began operations on 1 December 2009 and will in future be the most material contributor to the region. International Business: Revenue from the international business increased by 12% to R1.797 billion. Gains from Global brands, the Asia Pacific domestic brands, the oncology business and the additional revenue from the GSK transactions were partially offset by reversals in Latin America. Operating profit declined from R554 million to R463 million largely as a consequence of losses in Latin America and a strengthening of the Rand against most of the underlying trading currencies. An 18% increase in revenue to R824 million from the Global brands is largely attributable to revenue from Eltroxin, Lanoxin, Imuran and Zyloric, which were acquired with effect from 30 June 2008. Worldwide sales from these four Global brands achieved double-digit growth in United States Dollars (“USD”). The balance of the growth in the Global brands came from the addition of Aggrastat and the introduction of the eight products acquired from 1 December 2009 under the GSK transactions. The Asia Pacific domestic brands increased revenue by 8% to R522 million. This business, largely Australian based, again performed well considering the downward pricing pressure being experienced in this territory. Aspen has exercised its call on the remaining 49% shareholding in the Latin American businesses. Given that Aspen already has full rights to the economic performance of these businesses there is no further purchase consideration required for the acquisition of this remaining shareholding. Revenue from domestic brands in Latin America declined by 15% to R345 million. The primary underperformer was the Brazilian business, Aspen’s largest operation in the region. Aspen has assumed full operational control of the Brazilian business and has implemented a… Continue reading Aspen raises profits by 31% as South African business shines

Aspen Receives US $1 Million In Transfer of Technology Agreement

Johannesburg – Eli Lilly today announced the US$1 million milestone payment to Aspen, South Africa’s leading pharmaceutical manufacturer, as part of the joint collaboration on expanding access to medicines to treat multidrug-resistant tuberculosis (MDR-TB). The milestone is part of a Transfer of Technology agreement between Aspen and Lilly, initiated in 2003 under the umbrella of the Lilly MDR-TB Partnership, a global project to tackle the growing MDR-TB epidemic. The collaboration involved the transfer of Lilly’s drug manufacturing and packaging technology to enable Aspen to manufacture two essential anti-TB drugs. Lilly provided manufacturing know-how, access to technical experts, and other assistance to assure the quality and sustainability of the manufacturing processes. This Milestone “Aspen has invested more than R1 billion in the construction and enhancement of its local manufacturing facilities which includes South Africa’s only freeze-dried lyophilisation capability. The Lilly MDR-TB initiative collaboration arrangement is a further important milestone as it enables Aspen to manufacture and distribute Capreomycin, one of the few key treatment options available for the highly virulent MDR-TB. Lilly’s approach, amongst others, through the capex contribution to the project, is consistent with South Africa’s Industrial Policy of retaining and developing critical skills and unique technologies, reducing the dependency on imported products and providing export opportunities for the pharmaceutical sector”, said Stavros Nicolaou, Aspen Senior Executive. “This payment represents an important milestone in our partnership with Aspen,” said Iain Richardson, Senior Director of Global Supply Chain and Logistics at Eli Lilly and Company. “This collaboration ensures patients in the region and globally will receive an uninterrupted supply of quality MDR-TB drugs from a reliable manufacturer.” The partnership with Aspen represents one of four similar partnerships Lilly holds with pharmaceutical manufacturers based in high burden countries where MDR-TB is most prevalent. These additional partnerships are between Lilly and SIA International (Russia), Shasun Chemicals and Drugs (India), and Hisun Pharmaceutical Co., Ltd (China).

Aspen’s revenue increases by 80 percent as international business expands

Johannesburg – JSE listed Aspen Pharmacare Holdings Limited, Africa’s largest pharmaceutical manufacturer, has produced excellent results for the year ended 30 June 2009. Prevailing global economic conditions did little to deter the strength of the Group’s performance, with the South African and Australian businesses continuing to perform well. Aspen’s international expansions resulted in substantially increased contributions from the offshore businesses, delivering an operating profit of R1.076 billion. GROUP PERFORMANCE: Group revenue increased by 80% to R8,450 billion (R4.881 billion). Group operating profit improved by 82% to R2,183 billion (R1.298 billion). Group headline earnings per share (HEPS) grew by 68% to 389.4 cents (231.3 cents). Stephen Saad, Aspen Group Chief Executive said, “The Group’s international operations delivered positive results, delivering an increased contribution to earnings of 47% up from 15% last year. The South African business has achieved excellent growth and has increased its contribution to earnings by 14%, while retaining its position as the market leader in the pharmaceutical sector and improving its market share in all market segments. SOUTH AFRICAN OPERATIONS RETAIN MARKET LEADERSHIP Aspen’s South African business remains the market leader in the total private pharmaceutical market, the private generic market, the public sector pharmaceutical market and in the supply of anti-retrovirals (ARVs) to both the private and the public sectors. Campbell Belman’s independent Confidence Standing Survey of 42 over-the-counter (OTC) companies by 146 top retail pharmacies, again ranked Aspen as the top OTC company for the fourth time in the past six years. The South African business increased revenue by 30% to R4,868 billion amidst difficult trading conditions. Notwithstanding margin pressure, EBITA grew by R149 million to R1,208 billion. Restrictive factors such as accelerated raw material prices, production inflation and legislated fixed Single Exit Prices (SEP) impacted returns in the first half. A margin improvement was seen in the final quarter as a consequence of the Department of Health’s 13.2% increase in SEP in February 2009 and the implementation of the state tender price adjustment mechanism. An impressive performance was delivered by the pharmaceutical division, with revenue increasing by 34% to R3,767 billion. These results were driven by organic volume growth and the successful launches of Truvada, Viread, Vectoryl and Aspen Efavirenz. The consumer division’s 16% revenue increase to R1.101 billion was positive given the depressed retail sector. Leading brands such as Lennon Dutch Medicines, Infacare, S26, Guronsan C and Hamburg Tea delivered a credible performance. Prospects for the ophthalmic portfolio were enhanced with the addition of Eye-gene and Murine, while Melegi, a new infant milk formulation was launched and exported into selected African countries. Additional oral solid dose (OSD) manufacturing capacity was realised in Port Elizabeth with the completion of more packing lines. This provided relief to production pressure driven by unprecedented public sector demand. The new OSD tabletting production plant, presently undergoing validation, will provide further capacity before the end of 2009. The Sterile Facility’s eye-drop suite has commenced exporting Clear Eyes and Murine to Prestige Brands in the United States, while trials have been initiated in the hormonal suite. An explosion in the drying tower at Aspen’s Nutritionals Facility on 18 August 2009 caused extensive damage to that section of the production site. Blending and packing areas were unaffected and production in the drying tower should recommence before the end of the 2010 financial year. Contingency plans have been implemented to ensure continued supply of infant milk formulations to the market. INTERNATIONAL OPERATIONS DELIVER PLEASING RETURNS Over the past 18 months, the Group’s international expansion has been driven by acquisitions in Brazil, Mexico, Venezuela, Tanzania, Kenya and Uganda. With effect from 30 June 2008, the Group’s intellectual property portfolio in international markets was significantly enhanced by the acquisition of four globally branded products, Eltroxin, Lanoxin, Imuran and Zyloric from GSK for GBP 170 million. The global product range was also supplemented by two licensing transactions for branded products with US-based Iroko Pharmaceuticals. Aspen products are now distributed to more than 100 countries across the world. This expansion has resulted in a substantial increase in the contribution from international operations to the Group. Revenue of R3,869 billion was achieved, up from R1,123 billion and EBITA from continuing operations was R1,071 billion, up from R209 million. The global brands comprised R1.438 billion of revenue. Transition of distribution arrangements for the global brands to the Aspen network has already commenced, with the remainder of the transition scheduled in the 2010 financial year. Aspen Australia’s positive performance yielded a 29% increase in revenue to R915 million, despite legislated price cuts. These results were driven by effective product promotions and expanded product offerings. Aspen’s Latin American business recorded revenue of R841 million, but the potential of this territory remains to be realised. Initiatives receiving active attention include the strengthening of management, increasing representation in the private sector, launching new products and establishing a medium-term product pipeline. The Group’s East African business reported revenue of R373 million in a year in which political unrest in Kenya had a negative impact upon trade. Aspen disposed of its 50% shareholding in the ARV active pharmaceutical ingredient manufacturer, Astrix, for USD 39 million, with effect from 31 May 2009. GSK TRANSACTIONS On 12 May 2009 Aspen announced that it had agreed terms on a series of strategic interdependent transactions (“the GSK transactions”) with GSK, being: the acquisition of the rights to distribute GSK’s pharmaceutical products in South Africa; the formation of a collaboration arrangement between Aspen and GSK in relation to the marketing and selling of prescription pharmaceuticals in sub-Saharan Africa; the acquisition by Aspen Global of eight specialist branded products (Alkeran, Leukeran, Purinethol, Kemadrin, Lanvis, Myleran, Septrin and Trandate) for worldwide distribution; the acquisition of GSK’s manufacturing facility in Bad Oldesloe, Germany; and Aspen to issue 68.5 million shares to GSK as consideration for the transactions. The completion of the transactions was subject to the fulfillment of a number of conditions precedent. Certain of these conditions precedent have now been fulfilled, amongst these the approval of the South African Competition Authorities… Continue reading Aspen’s revenue increases by 80 percent as international business expands

Aspen’s S26 Assurance of Quality

A message from Aspen Group Chief Executive, Stephen Saad, to the mothers of South Africa’s babies: “At Aspen we understand that the wellbeing of your baby is of utmost importance. I confidently give you my assurance that Aspen’s S26 infant milk formula available to you in South Africa is of the highest quality. My confidence is based on these facts: Each batch of S26 undergoes as many as 60 different tests, there by ensuring their quality prior to dispatch S26 complies with international quality standards S26 is manufactured in an internationally approved factory S26 has been used by the South African Department of Health S26 has been supplied to South African mothers for 40 years. You can feed your baby with S26 in the sure knowledge that the product is of the highest quality. I have and I would.” The Tanzanian Health authorities recently withdrew S26-1 from the market in that country following four complaints regarding the quality of the product. There have been reports of counterfeit S26 in the Tanzanian market. Quality deterioration may also be caused by non-adherence to required storage conditions. Aspen is actively investigating the matter and will take all measures required to ensure the matter is managed.

Quality of S-26 in South Africa Guaranteed

Johannesburg: Aspen Nutritionals, manufacturer of S-26 and other infant milk formulations (IMFs), confirms that all IMFs manufactured and marketed by Aspen Nutritionals are safe for infant consumption. This statement is being issued in response to a media report concerning the Tanzanian Food and Drug Administration’s withdrawal notification of a consignment of S-26, which, until proven otherwise, could be counterfeit product. Karyn Purchase, Aspen Nutritionals Factory Manager said, “S-26 has been manufactured in South Africa for the past 40 years without any adverse incident being recorded. S-26 and all other IMFs sold by Aspen on the South African market are tested to the highest international standards, meeting not only the latest South African Foodstuffs, Cosmetics and Disinfectants Act and regulations (ACT 54: 1972), but also CODEX / WHO standards applicable to IMFs and Follow-On formulations, FDA CFR21 (applicable legislation “Infant Formula Quality Control Procedures). Aspen’s IMFs have always met all International Quality and Food Safety requirements”. Aspen’s Clayville Facility, which manufactures IMFs, is GMP and HACCP certified through the Perishable Products Export Control Board (PPECB), which is accredited with the South African National Accreditation System (SANAS). Up to sixty individual tests including physical, sensorial, chemical and microbiological testing is performed on every single batch number of IMFs sold by Aspen to ensure that the food safety of our customers is protected 100%. Additionally a complete stability programme is in place to ensure continued suitability and safety, and efficacy of all IMF products up to the shelf life of each product. Independent complete testing of all IMFs to monitor proficiency of local quality control operations is routinely conducted. Testing includes contaminants and residues testing including Melamine and Radionuclides to comply with all local and International guidelines. Issued by: Shauneen Beukes, Shauneen Beukes Communications On Behalf Of: Karyn Purchase, Aspen Nutritionals Factory Manager Tel: (011) 206-9510 : Cell: 083 625 0810

Closed Period

Aspen is in a closed period from 1st January 2026 until the publication of the interim results on the JSE SENS platform on the 3rd March 2026.

The live presentation will take place in Cape Town at 08h30 on 2 March 2023.

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