CAUTIONARY ANNOUNCEMENT
Standard Corporate and Merchant Bank is authorised to announce that Prism
has signed binding heads of agreement with a leading non-listed South
African Black Economic Empowerment ("BEE") group.
In terms of the binding heads of agreement, the BEE group will acquire a
significant, non-controlling, shareholding in Prism Payment Technologies
(Proprietary) Limited, currently a wholly-owned subsidiary of Prism which
houses Prism's South African operations. The BEE group also has an option to
convert its shareholding into Prism ordinary shares at a predetermined ratio
after a specified time period.
The heads of agreement is subject to the requisite approvals from the
respective boards and shareholders of Prism and the BEE group, as well as
regulatory authorities and any such other parties as may be necessary.
Accordingly, Prism shareholders are advised to exercise caution when dealing
in their shares until a further announcement is made.
Johannesburg
21 September 2001
Merchant bank and sponsor to Prism
SCMB
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
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