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PCN
PCN
PCN - Paracon - Trading update and acquisition of 100% of X-Pert Group
(Proprietary) Limited
Paracon Holdings Limited
Incorporated in the Republic of South Africa
(Registration Number 1997/008181/06)
Share code: PCN & ISIN: ZAE000029674
("Paracon" or "the Group")
TRADING UPDATE AND ACQUISITION BY PARACON OF 100% OF X-PERT GROUP (PROPRIETARY)
LIMITED
Trading Update
In terms of the Listings Requirements of JSE Limited, companies are required to
publish a trading statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20%
from that of the previous corresponding period. Accordingly, a review of the
financial results for the year ending 30 September 2007 by management has
indicated that headline earnings per share and earnings per share are expected
to be between 50% and 60% higher than the previous year.
The financial information on which this trading statement is based has not been
reviewed or reported on by Paracon`s auditors. Paracon`s annual financial
results are expected to be released on 12 November 2007.
Acquisition by Paracon of X-Pert Group (Proprietary) Limited ("X-Pert")
The board is pleased to announce that on 26 September 2007, Paracon reached
agreement to acquire 100% of X-Pert, a project management consulting and
training company ("the acquisition"). Many blue-chip organisations across many
industry sectors have standardised on the X-Pert "Managing By Project" business
philosophy and methodology, using it as a standard in the conceptualisation,
execution and realisation of business benefits for all strategic projects. X-
Pert has approximately 150 consultants and staff with offices in both Cape Town
and Gauteng.
Strategically, the acquisition offers exciting opportunities for Paracon
including, inter alia, expanding and complementing Paracon`s existing service
offering to its clients and accessing a wider range of skills.
The agreement is subject to a number of suspensive conditions which are normal
in transactions of this nature. The acquisition will only be accounted for in
Paracon`s results once all the conditions have been met and will therefore not
be included in the 2007 year end results. The acquisition will be funded out of
existing cash resources and will not have a significant impact on Paracon.
By order of the Board
1 October 2007
Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 01/10/2007 11:26:01 Produced by the JSE SENS Department.
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