Ramsay Health Care : ASX Announcement – RGDS Launches Rights Issue as Part of Refinancing of Capio Acquisition

ASX ANNOUNCEMENT

25 March 2019

RAMSAY GÉNÉRALE DE SANTÉ LAUNCHES RIGHTS ISSUE FOR EUR625M AS PART OF REFINANCING OF CAPIO ACQUISITION

Ramsay Health Care Limited (Ramsay) advises that on the evening of Friday, 22 March 2019 (AEDT), its French subsidiary, Ramsay Générale de Santé (RGdS), announced that it had launched its EUR625 million renounceable rights issue (RGdS Rights Issue) as part of its previously disclosed intention to refinance its purchase of Capio AB.

Under the RGdS Rights Issue, as announced by RGdS:

•  RGdS will issue 37,978,547 new shares (RGdS New Shares) for a total amount of EUR625,126,884.

•  RGdS shareholders will be entitled to participate in the RGdS Rights Issue on a 1 RGdS New Share for every 2 ordinary shares held basis. Rights to acquire RGdS New Shares may be traded on Euronext Paris during the rights trading period of 25 March 2019 to 3 April 2019 (inclusive).

•  The subscription price of RGdS New Shares is EUR16.46 per RGdS New Share, representing a 21.62% discount to the closing price (EUR21.00) on 20 March 2019.

•  The subscription period for RGdS New Shares will open on 27 March 2019 and end on 5 April 2019 inclusive.

As previously advised to the market, Ramsay and RGdS's other major shareholder, Prévoyance Dialogue du Crédit Agricole (Predica), have irrevocably committed to subscribe for a total minimum of €550 million in RGdS New Shares. Ramsay will be issued new RGdS shares amounting to EUR318.1 million (or 50.88% of the RGdS Rights Issue), and these shares will fully extinguish the existing subordinated bonds (and accrued interest) issued to Ramsay. The subordinated bonds, which were issued to both Ramsay and Predica were, in conjunction with the debt raised by RGdS, used to finance the acquisition of Capio AB.

Contacts:

Craig McNally	Carmel Monaghan
Managing Director	Chief of Staff
Ramsay Health Care	Ramsay Health Care
+ 61 2 9220 1000	+ 61 438 646 273