| Wed 11 Apr 2001, 0:00 | | Datacraft Acquires The Remaining Interest In Dci F |
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DIMENSION DATA HOLDINGS PLC
Deal to strengthen Dimension Data's presence in Indonesia
Dimension Data Holdings plc's ("Dimension Data") Asian subsidiary, Datacraft
Asia Ltd (the "Company" or "Datacraft Asia") is pleased to announce that the
Company has signed a Letter of Intent to acquire the remaining 40% equity
interest in PT Datacraft Indonesia ("DCI"), the Indonesian data communications
company.
Datacraft Asia currently owns 60% of DCI and will pay US$16.1 million in cash
to purchase the remaining 40% equity interest in DCI from its joint venture
partner PT Mitra Intergrasi Informatika, a subsidiary of PT Metrodata
Electronik. DCI is involved in the design, development, marketing and
servicing of data communication systems and employs 47 full time staff.
The Directors of Datacraft Asia believe that the Company will benefit from the
acquisition of the remaining 40% equity interest in DCI as the Company will
have total management control in both the operational and strategic direction
of the business. With the liberalisation of the IT and Telecommunications
Market and the current and expected strong future growth rates of the business
in Indonesia, the Company will benefit from the consolidation of the stake in
DCI.
A deposit amounting to US$805,000 is payable within 5 days of the signing of
the Letter Of Intent and the balance of US$15.295 million will be payable on
the completion of the Acquisition.
The Directors expect to enter into a Share Purchase Agreement shortly and the
completion of the Acquisition to take place around 30 June 2001 after receiving
all relevant approvals, including approval from the Indonesia Supervisory Board
of Capital Market ("Bapepam"), the Indonesian Capital Investment Board
("BKPM"), shareholders of PT Mitra Intergrasi Informatika and shareholders of
PT Metrodata Electronik at general meetings.
ends
CONTACTS:
Karen Cramer, Investor Relations + 44 20 7659 1600
Louise Taylor, UK Corporate Communications
Dimension Data Holdings plc
Giles Sanderson/James Melville-Ross + 44 20 7831 3113
Financial Dynamics
This and a selection of key Dimension Data press releases are available on
www.pressfirst.com and a comprehensive list of press releases can be found on
the company's web site www.didata.com
Notes to editors:
Dimension Data Holdings plc is a leading global network services and i-Commerce
solutions provider, focused on enabling enterprises, telecommunications service
providers and new economy companies to communicate and transact effectively in
an e-enabled environment.
Listed on the London Stock Exchange, Dimension Data is a constituent of the
FTSE 100 index. The Group operates in over 30 countries on six continents. It
has achieved a three-year compound annual growth rate in US dollars of 73% in
revenue and 36% in basic earnings per share. For more information, please go to
www.didata.com.
Datacraft Asia is the region's leading independent network systems integrator
and e-business enabler. Listed on the main board of the Singapore Exchange,
Datacraft is in the business of building and managing Internet infrastructure,
implementing online business solutions and delivering value-add networking
services for service providers and corporate customers across Asia Pacific.
The company offers unparalleled regional coverage and specialist support with
its extensive network of 62 offices throughout Singapore, Malaysia, Hong Kong,
China, India, Taiwan, Indonesia, Thailand, New Zealand, Vietnam, Philippines,
Japan and Korea. Datacraft is a member of the Dimension Data Group. Listed on
London Stock Exchange, Dimension Data is a leading global network services and
iCommerce solutions provider. More information about Datacraft Asia can be
found on the Web at www.datacraft-asia.com.
