|
ZAPTRONIX
Zaptronix Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/014928/06)
Share code: ZPT ISIN: ZAE000015145
("Zaptronix" or "the company")
CHANGE OF CONTROL, APPOINTMENT OF DIRECTORS AND RENEWAL OF CAUTIONARY
ANNOUNCEMENT
Change of Control
Further to the cautionary announcements dated 28 January 2003, 25 March 2003, 20
May 2003 and 7 July 2003, Radagast Capital (Pty) Ltd is authorised to announce
that an agreement has been reached whereby Gandalf Trust ("Gandalf") has
acquired 90 916 885 ordinary shares of 1 cent per share ("cps") each in the
capital of Zaptronix for a total purchase consideration of R454 583.93,
equivalent to 0.5cps. The shares, which have been acquired from Hitachi Europe
Limited, Mr John Heath, Applied Systems Engineering (UK) Ltd, Mr Nicholas Adams
and The Coronation New Era Fund Limited, represent 63% of the company"s issued
share capital constituting an affected transaction in terms of the definitions
contained in the Securities Regulation Code on Takeovers and Mergers.
In order to facilitate a complete refocus of the business, it was considered to
be in the best interests of the company to negotiate the change in control.
Gandalf, as the new controlling shareholder, is currently considering new
opportunities on behalf of the company and shareholders are advised that the
company intends to maintain its listing on the JSE Securities Exchange South
Africa.
CHANGES TO BOARD OF DIRECTORS
Messrs. KJ Gribnitz, JP Nel and PE du Preez have been appointed to the board as
executive directors, with immediate effect. Mr J Stratenwerth will continue to
serve as an executive director.
OFFER TO MINORITIES
The Securities Regulation Panel has agreed to waive the requirement for a
mandatory offer to be made to the minority shareholders of the company on the
basis of the de minimus principle - an offer to shareholders of 0.5cps being
considered too small to be meaningful.
RENEWAL OF CAUTIONARY ANNOUNCEMENT
The negotiations, which were the subject of the earlier cautionary
announcements, have been concluded. Shareholders are, however, advised that the
company has entered into fresh negotiations, which, if successfully concluded,
may have a material effect on the price of the company"s securities.
Shareholders are accordingly advised to continue exercising caution when dealing
in the company"s securities until a further announcement is made in this regard.
PRETORIA
15 August 2003
Corporate Advisor Sponsor
Radagast Capital (Pty) Ltd LPC Manhattan Sponsors (Pty) Ltd
Restructuring Advisor
Gandalf Trust
Date: 15/08/2003 12:18:22 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
