| Wed 15 Oct 2008, 10:09 | | DDT - Dimension Data - Datacraft shareholders vote in favour of Dimension |
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DDT
DIDDT
DDT - Dimension Data - Datacraft shareholders vote in favour of Dimension
Data Offer
MEDIA RELEASE
Dimension Data Holdings Plc DATACRAFT ASIA LTD
Incorporated in Great Britain (Incorporated in the Republic
under the Companies Act 1985 of Singapore)
Registration Number: 3704278 (Company Registration No.
Share Code: DDT 199301842Z)
Issuer code: DIDDT
ISIN number: GB0008435405
("Dimension Data" or "the
Company")
MEDIA RELEASE - Datacraft shareholders vote in favour of Dimension Data Offer
Media contacts:
Hilary King Esther Quah
Dimension Data Datacraft Asia
Tel: +27 11 575 6728 Tel: +65 6322 6619 (DID)
mobile: +27 82 414 9623 Tel: +65 6322 6688
hilary.king@za.didata.com esther.quah@datacraft-asia.com
Datacraft shareholders vote in favour of Dimension Data Offer
privatisation positions Datacraft `as a stronger force`
Singapore - 15 October, 2008 - Dimension Data, a $3.8 billion leading global IT
solutions and services provider, announced today that shareholders in its Asian
subsidiary, Datacraft Asia Ltd had voted in favour of an offer by Dimension Data
to purchase the remaining 44.9% stake that it does not already own. When the
transaction is completed, Datacraft Asia Ltd will be a wholly-owned subsidiary
of Dimension Data Holdings plc.
In terms of the transaction which was effected by way of a Scheme of Arrangement
under Singapore law, shareholders were offered US$1.33 a share - a 34% premium
to Datacraft`s closing share price of US$0.99 cents on Monday 21 July 2008. The
total cost of the acquisition is approximately US$276 million, and is financed
by cash, part of which was raised by an equity issuance.
The Scheme is still to be approved by the Singapore Court, and when that is
done, Datacraft will be delisted from the Singapore Stock Exchange.
Dimension Data CEO, Brett Dawson says, "We are delighted our offer has been
accepted by Datacraft shareholders. Datacraft has been part of the Dimension
Data family for 11 years and a strong alignment between the two companies
already exists. Datacraft also has a strong competitive position in the key
markets in Asia. We believe the company will continue to go from strength to
strength, capture market opportunities and expand its footprint in the growing
Asia Pacific market.
Datacraft CEO, Bill Padfield adds, "Apart from offering tremendous benefits to
our employees and clients, Datacraft`s privatisation also positions us as a
stronger force, given that we are wholly-owned by a global multinational group."
"In addition, we will be able to operate with greater flexibility and leverage
opportunities internationally, which in turn will accelerate growth in key
markets."
"Looking to the future, the transaction enhances Datacraft`s operational
effectiveness. We will be able to share group-wide resources and capitalise on
the cashflows and capital structures of Dimension Data," Padfield concludes.
For further information, please refer to the Investor Relations section of
www.dimensiondata.com or www.datacraft-asia.com .
Ends
About Dimension Data
Dimension Data (LSE:DDT), a specialist IT services and solutions provider, helps
clients plan, build, support and manage their network and IT infrastructures.
Dimension Data applies its expertise in networking, security, operating
environments, storage and contact center technologies and its unique skills in
consulting, integration and managed services to create customized client
services. www.dimensiondata.com
The directors of Dimension Data (including any director who may have delegated
detailed supervision of this press release) have taken all reasonable care to
ensure that the facts stated and opinions expressed in this press release (other
than those relating to Datacraft) are fair and accurate and that no material
facts have been omitted from this press release, and they jointly and severally
accept responsibility accordingly. Where any information has been extracted from
published or publicly available sources, the sole responsibility of the
directors of Dimension Data has been to ensure through reasonable enquiries that
such information is accurately extracted from such sources or, as the case may
be, reflected or reproduced in this press release.
About Datacraft
Datacraft is the leading independent IT services and solutions company in Asia
Pacific. The company helps clients plan, build, support and manage their IT
infrastructures. Datacraft combines an expertise in networking, security,
operating environments, storage and contact centre technologies, with advanced
skills in consulting, integration and managed services, to craft IT solutions
for businesses.
A member of the Dimension Data Group, Datacraft is listed on the main board of
the Singapore Exchange. Headquartered in Singapore, Datacraft operates in more
than 50 major offices and has over 1,460 employees across 13 Asia Pacific
markets.
The directors of Datacraft (including any director who may have delegated
detailed supervision of this press release) have taken all reasonable care to
ensure that the facts stated and opinions expressed in this press release (other
than those relating to Dimension Data) are fair and accurate and that no
material facts have been omitted from this press release, and they jointly and
severally accept responsibility accordingly. Where any information has been
extracted from published or publicly available sources, the sole responsibility
of the directors of Datacraft has been to ensure through reasonable enquiries
that such information is accurately extracted from such sources or, as the case
may be, reflected or reproduced in this press release.
Date: 15/10/2008 10:09:31 Produced by the JSE SENS Department.
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