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FWX
FWX
FWX - Foneworx Holdings Limited - Transfer of Listing to Alt X of the JSE
Foneworx Holdings Limited
(formerly Interconnective Solutions Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1997/010640/06)
Share code: FWX & ISIN: ZAE000086237
("Foneworx")
TRANSFER OF LISTING TO THE ALTERNATIVE EXCHANGE ("Alt X") OF THE JSE LIMITED
("JSE")
1 Introduction
Deloitte & Touche Sponsor Services (Proprietary) Limited is pleased to announce
that the JSE has approved the transfer of the listing of Foneworx to Alt X with
effect from commencement of business on Wednesday, 13 June 2007.
Deloitte & Touche Sponsor Services (Proprietary) Limited has been appointed as
Designated Advisor to the company.
2 Background
Foneworx is an investment holding company whose subsidiaries provides
interactive telecommunication services to the advertising and media industries,
business services such as electronic faxes to the business community and
aggregated applications to the small, medium and micro enterprises. FoneWorx
also hosts switching services and provides music downloads and content to
corporate clients. It has its own switching platform connected to all
telecommunications networks and, in addition, hosts and manages services
throughout Africa.
3 Directors
Name Position
Ronald Graver Executive Director
Ashvin Mancha Chairman and Independent Director
Gaurang Mooney Independent Director
Robert Russel Executive Director
Mark Smith Chief Executive Officer
Gareth Tudor Financial Director
4 Rationale
The transfer to Alt X would:
* Remove the company from the VCM/DCM sections of the JSE;
* Enhance the group`s profile;
* Create a working environment that can attract, motivate, retain and reward
the best possible human resources;
* Strengthen the group`s balance sheet by positioning it to raise capital and
take advantage of key opportunities arising from strategic acquisitions;
and
* Open new markets.
5 Share capital
The share capital of the company is set out as follows:
Authorised share capital : 250 000 000 ordinary shares of R 0,001 each
Issued share capital : 115 671 429 ordinary shares of R 0,001 each
Share premium : R 14 842 000
Shares to be issued : Nil
6 Conclusion
As Foneworx is already listed on the JSE, the company has not published a pre-
listing statement and investors requiring further information on the company
should request a copy of the Annual Report which includes the audited financial
statements for the year ended 30 June 2006 either from Foneworx at First Floor,
Corner of Hendrick Verwoerd Drive and Will Scarlet Road, Ferndale, Randburg,
2194 or from the transfer secretaries Computershare Investor Services 2004 (Pty)
Limited, 70 Marshall Street, Johannesburg, 2001.
11 June 2007
Randburg
Designated Advisor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
Date: 11/06/2007 08:00:01 Produced by the JSE SENS Department.
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