| Thu 8 Oct 2009, 15:01 | | BEE - Beget Holdings Limited - Transfer of Beget`s Listing to the Altx |
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BEE
BEE
BEE - Beget Holdings Limited - Transfer of Beget`s Listing to the Altx
BEGET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2002/011635/06)
Share code: BEE ISIN number: ZAE000044111
("Beget" or "the company")
TRANSFER OF BEGET`S LISTING TO THE ALTx
1 INTRODUCTION
The JSE Limited ("JSE") has granted Beget the transfer of its listing on
the Venture Capital Market ("VCM") of the JSE to the Altx of the JSE from
Thursday, 15 October 2009. The listing on the Altx will be under the
abbreviated name "Beget", share code "BEE" and ISIN ZAE000044111.
2 INCORPORATION AND HISTORY
2.1 Beget, founded during 2001, was incorporated on 20 May 2002.
2.2 The company`s founding members combined their technical expertise and
marketing vision to mould a company rich in technical ability and technical
solutions provision. Beget was listed on the JSE on 30 April 2002.
2.3 The business was founded on the strength of SMSolutions, a product that
provided an entry point into Global System for Mobile Communications
("GSM"). The later introduction of General Packet Radio Service ("GPRS")
saw the management team identifying more opportunities in communication
methods. The subsequent terrorist attacks of 11 September 2001 provided a
massive impetus to biometrics. A combination of biometrics and GPRS lead to
the sale of the first BegetBio unit during October 2004. Global exports
followed and the product has continued to show strong sales since.
3 NATURE OF THE COMPANY`S BUSINESS AND INDUSTRY
3.1 Beget specialises in the development and marketing of GSM communication
technology software, applications and solutions.
3.2 The cellular voice transmission market has reached saturation point. As
result, major cellular phone companies are currently experiencing
significant growth in data transmission over the same GSM networks. Beget`s
proprietary software applications and solutions have positioned the company
to capitalise on this rapid growth in the telecommunications market. The
company finds itself at the forefront of the GPRS market in mobile
telecommunications development.
3.3 Beget will continue to focus on the development of new competencies and
applications in the GSM environment through the application of GPRS
together with a focus on Short Message Services ("SMS") and Location-Based
Services ("LBS").
4 RATIONALE FOR TRANSFER
4.1 Beget`s recent return to profitability in conjunction with future prospects
and an increase in share trading volumes, position the company well for a
transfer to the Altx.
4.2 The transfer of its listing to the Altx will enhance the group`s profile
and allow Beget to explore potential acquisitions in accordance with the
company`s growth strategy.
5 SHARE CAPITAL
5.1 The share capital of the company is set out as follows:
Rand
Authorised:
1 000 000 000 ordinary shares of 0.0002 2 000
cents each
Issued:
762 880 492 ordinary shares of 0.0002 1 526
cents each
Share premium 35 715 859
Total 35 717 385
5.2 The total issued ordinary shares of 762 880 492 will be transferred to the
Altx of the JSE.
6 DIRECTORS, COMPANY SECRETARY AND REGISTERED OFFICE
6.1 Full names, nationalities, ages, business addresses and functions of the
board of directors of Beget:
Director Age Occupation Business address
Adv J F Nalane* 42 Independent 2nd Floor, Rex Welsh House, Cnr
Non- Naude and Gwen Avenue, Sandton,
Executive 2167
Chairman
T Mogashoa* 32 Independent 9A Aberfeldy Ave, Morningside,
Non- Sandton
Executive
Director
H Potgieter* 32 Non- 1B pioneer Street, Tora,
Executive Durbanville
Director
C van Coller* 46 Non- 123 Brook Street, Brooklyn, 0181
Executive
Director
A Potgieter # 57 Managing 85 Durham Street, Clubview,
Director Centurion
D Hawkins # 37 Executive 85 Durham Street, Clubview,
Director Centurion
A Bennie # 55 Financial 85 Durham Street, Clubview,
Director Centurion
* Non - executive directors
# Executive directors
Note: All directors are South African citizens
6.2 Company secretary and registered office are:
Ester Calitz
85 Durham Street, Clubview,
Centurion, 0157
(PO Box 13983, Clubview, 0014)
Telephone: (086) 1123 438
Facsimile: (086) 1223 438
7 DOCUMENTATION
As Beget is already listed on the VCM of the JSE, the company has not
published a pre-listing statement and investors requiring further
information on the company should request a copy of the Annual Report which
includes the audited financial statements for the year ended 30 April 2009
either from the JSE, the registered offices of Beget or the transfer
secretaries, Link Market Services SA (Pty) Limited, 5th Floor, 11 Diagonal
Street, Johannesburg.
Centurion
8 October 2009
Sponsor & Designated Adviser
Exchange Sponsors
Auditors and reporting accountants
PKF (Pretoria) Inc.
www.beget.co.za
Date: 08/10/2009 15:01:01 Produced by the JSE SENS Department.
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