Ramsay shareholders would be able to elect to receive 100% cash consideration of $88.00 cash per
share for their first 5,000 Ramsay shares. Based on the most recently published distribution of
shareholders, the consideration for each Ramsay share in excess of 5,000 shares would be:
• A$78.20 cash; and
• approximately 0.22 Ramsay Santé shares.
Then way I read this is that all share holders for the first 5k shares to receive $88 cash, all share held above would be a mix of cash and Script.
Ann: Update on Non-Binding Indicative Proposal, page-7
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