| Wed 30 Jan 2008, 16:00 | | VOX - Vox Telecom - Unconditional Acquisition |
|
VOX
VOX
VOX - Vox Telecom - Unconditional Acquisition
VOX TELECOM LIMITED
(Formerly DataPro Group Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1998/016433/06)
("Vox Telecom" or "the company")
JSE Code: VOX & ISIN Code: ZAE000097234
UNCONDITIONAL ACQUISITION OF 100% OF STORM AND APPOINTMENT OF DIRECTOR
The board of directors of Vox Telecom is pleased to announce that, further to
the announcement dated 10 October 2007 pertaining to the acquisition by Vox
Telecom of the entire issued share capital and claims on loan account in STWS
Limited and its wholly owned subsidiaries, Storm Telecom (Pty) Limited and Storm
Internet (Pty) Limited (collectively, "Storm"), ("the Storm Acquisition"), with
effect from 1 December 2007, consents of both the Exchange Control Department of
the South African Reserve Bank and the Competition Authorities of South Africa
have been obtained. All the conditions pertaining to the Storm Acquisition have
now been met and, accordingly, the Storm Acquisition has become unconditional.
Shareholders of Vox Telecom are reminded that Mvelaphanda Group Limited has
agreed to take up vendor shares as part of the Storm Acquisition and have
nominated Mr Tshakalisa Matiwaza to the board of Vox Telecom with effect from 30
January 2008.
Mr Tshakalisa Matiwaza ("Shakes")
Mr. Matiwaza completed a BSc Chemical Engineering degree with the University of
Cape Town in 1993 and in 1999 completed a BCom degree with the University of
South Africa. While working for PetroSA (formerly Mossgas Refinery) as a
production engineer he completed his MBA degree with the University of Cape Town
and University of Cambridge (exchange programme) and became the recipient of the
Sainsbury Management Fellowship for engineering graduates with excellent
academic records and leadership potential. In October 2007 he left The Standard
Bank of South Africa Limited where he held the position of director of corporate
finance to join Mvelaphanda Group Limited and currently holds the position of
Group Investment Executive. Shakes will be joining Vox Telecom as a non-
executive director.
BEE Status
Following the Storm Acquisition approximately 42% of Vox Telecom will be held by
BEE shareholders, namely the Lereko Metier Capital Growth Fund with 23,6%,
Mvelaphanda Group Limited with 12,42%, Regiments Capital with 4,24% and Thembeka
Capital with 1,61%. This makes Vox Telecom the largest black-owned
telecommunications company operating in South Africa.
Johannesburg
30 January 2008
Corporate Advisor Designated Advisor
Metier Arcay Moela Sponsors (Pty) Ltd
Date: 30/01/2008 16:00:05 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
