ERP.Com Holdings Limited
Press Release
Share code :ERP
ISIN :ZAE000019311
Treacle Acquires 14,5% Stake In ERP.Com
Johannesburg - ERP.com today announced that the technology private equity
and venture capital fund, Treacle Venture Partners, has acquired a 14,5%
stake in the company for R5,8 million. Rudolf Pretorius, one of Treacle's
partners, will be joining the ERP.com board as a non-executive director.
ERP.com is listed in the Venture Capital sector of the JSE and focuses on
the implementation, integration and management of enterprise wide
information technology applications. Peter Forsyth, ERP.com's CEO said that
Treacle was attracted to ERP.com by its track record to date which has shown
significant growth and bottom line performance since its inception 2.5 years
ago.
According to Rudolf Pretorius of Treacle "the ERP.com management team has
shown an ability to attract and retain good skills across all its divisions,
all of whom are operating profitably and growing strongly. In our opinion,
ERP.com is one of the few listed IT companies that will give investors a
good return on their money over the next 3-5 years."
This event has no material effect on earnings.
Rudolf Pretorius replaces Philip Vallet who has resigned from the ERP.com
board with effect from 26 October 2001.
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