Idion/ Venfin Limited - Joint Notification To Shareholders
Release Date: 14/05/2004 13:09:13 Code(s): VNF IDI
IDION/ VENFIN LIMITED - JOINT NOTIFICATION TO SHAREHOLDERS
IDION Technology Holdings Limited
(Incorporated in the Republic of South Africa)
("IDION" or "the Company")
(Registration Number: 1998/013846/06)
Share Code: IDI ISIN : ZAE000022513
VenFin Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1948/031037/06)
Share Code: VNF ISIN : ZAE000026498
Joint Notification to Shareholders
Rand Merchant Bank, a division of FirstRand Bank Limited, is authorised to
announce that VenFin Limited ("VenFin") and an institutional investor have
acquired the 42.58% shareholding in IDION previously held by DataMirror
Corporation. The transaction increases VenFin"s shareholding in IDION from 6.0%
to approximately 34.9%.
The Board of IDION welcomes the news, as it provides the Company with stable,
long-term strategic shareholders. The IDION management team has indicated that
it remains committed to IDION. The exit of DataMirror Corporation brings to an
end its hostile attempts to take over IDION.
14 May 2004
Merchant Bank to the transaction and sponsor to VenFin
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
CORPORATE FINANCE
Sponsor to IDION
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
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