| Tue 11 Sep 2007, 8:59 | | DGC - DigiCore - Acquisition Of Minority Sharehold |
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DGC
DGC
DGC - DigiCore - Acquisition Of Minority Shareholding In Digicore Europe BV
DIGICORE HOLDINGS LIMITED
Registration number: 1998/012601/06
Share Code: DGC
ISIN Number: ZAE000016945
("DigiCore")
ACQUISITION OF MINORITY SHAREHOLDING IN DIGICORE EUROPE BV
Although not required by the Listings Requirements of the JSE Limited as the
value of the transaction is less than 5%, DigiCore wishes to announce the
conclusion of an offer made on 10 May 2007 for the purchase of 49% of the
issued share capital in it`s offshore subsidiary, DigiCore Europe BV, from
minority shareholder Stramco BV. The acquisition is effective from 1 January
2007.
The purchase price of R61,136 million has now been settled partly in cash of
Euro2,458 million and partly through the issue of 6,509,874 DigiCore shares
after fulfillment of the suspensive conditions.
The deal was concluded at an average PE ratio of 8,5, based on earnings
after tax of Euro1,5 million for the year ended 30 June 2007.
The allotment of the 6,509,874 ordinary DigiCore shares came into effect on
10 September 2007.
Pretoria
11 September 2007
Sponsor
PSG Capital (Pty) Limited
Date: 11/09/2007 08:59:34 Produced by the JSE SENS Department.
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