| Thu 10 Apr 2008, 16:04 | | SLL - Stella Vista Technologies Limited - Press re |
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SLL - Stella Vista Technologies Limited - Press release
STELLA VISTA TECHNOLOGIES LIMITED
Incorporated in the Republic of South Africa
(Registration number 1996/000172/06)
Share code: SLL ISIN: ZAE0000018198
("Stella Vista" or "the company")
PRESS RELEASE - STELLA VISTA TECHNOLOGIES LIMITED
Johannesburg - Shareholders of listed company Stella Vista Technologies Limited
today approved a specific issue of shares to Woodlane (Pty) Limited, a company
formed specifically for the investment in Stella Vista and of whom a major
shareholder is Sahara Systems. The transaction will result in Woodlane, a BEE
company, holding a 25.1% stake in Stella Vista.
Sahara Systems is a major computer and related product supplier both in South
Africa and within India and the sub-continent. Stella Vista is a world leader
in state of the art multi-media mass communication systems, providing displays,
control equipment and software equipment for a multitude of applications. These
multi-purpose products include scoreboards, video display screens, electronic
perimeter boards and combined text and graphic messaging displays with real-time
data capabilities. The synergies resulting from the new relationship are
anticipated to be significant.
Dr Ali Bacher, the Chairman of Stella Vista, commented after the shareholder
meeting: "The relationship with Woodlane and Sahara will open up tremendous
opportunities and unlock new potential for Stella Vista. We are pleased to have
embarked on this journey with Sahara."
"We are very pleased to enter into this market venture and partnership with
Stella Vista. The obvious synergy between our companies and the ethos upon which
we all base our activity is such that a merger to capture market share and
improve upon our technology offering was a natural step and one that we look
forward to nurturing," commented Atul Gupta, Chairman and Managing Director,
Sahara Holdings, who has also been invited to join the Board of Stella Vista.
Muris Tabakovic, the Chief Executive Officer of Stella Vista, commented further:
"With the successful implementation of this new strategic relationship, the
company expects to unlock significant value for shareholders in the medium to
long term. We are extremely optimistic and look forward to a long and mutually
beneficial relationship with Woodlane and Sahara."
Issued by Stella Vista Technologies
Contact: Nomsa Chabeli Mazibuko
Marketing and Communications Director
011-433-2020 / 0825658064
Date: 10/04/2008 16:04:50 Produced by the JSE SENS Department.
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