Altech - Announcement
ALLIED TECHNOLOGIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/020415/06)
Share code ALT ISIN ZAE000015251
("Altech")
Termination of Negotiations -
Prism TranSwitch Services (Pty) Limited ("PTSS")
On 7 October 2002 it was announced that Altech had entered into heads of
agreement with Prism Holdings Limited ("Prism") for the purchase of Prism`s
interest in PTSS, subject to certain conditions precedent.
In the negotiation of the detailed terms of the agreement relating to the
proposed transaction, Altech could not obtain appropriate assurances and
protections that it required with regard to intellectual property rights and non
competition undertakings relating to the business of PTSS.
Accordingly, the parties have agreed to terminate negotiations and therefore
this acquisition will not be concluded.
Johannesburg
4 December 2002
Investment bank
Nedcor Investment Bank
Joint sponsors
HSBC
Cazenove
Date: 04/12/2002 05:34:00 PM Produced by the JSE SENS Department
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