Interconnective Solutions Ltd - General Issue Of S
Interconnective Solutions Ltd - General Issue Of Shares For Cash
INTERCONNECTIVE SOLUTIONS LTD
(Incorporated in the Republic of South Africa)
(Registration number1997/010640/06)
Share code ILT, ISIN: ZAE000017943
(`ISOLUTION` or `the company`)
GENERAL ISSUE OF SHARES FOR CASH
1. Introduction
Shareholders are referred to the sale agreement that was entered into between
the company and Telemessage (Pty) Limited (`Telemessage`), in terms of which 15
500 000 shares were to be issued to key employees of Telemessage, and are now
advised of the following:
General issue of shares for cash
The benefit of the sale agreement was that the company took over the entire
client base of Telemessage, the intellectual property and know-how associated
with the business, and that such know-how vested with three key employees who
were cited in the sale of assets agreement.
In terms of that agreement, 15 500 000 shares were to be issued to these key
employees. To date 14 490 000 shares have been issued, leaving a balance of
1 010 000 shares still to be issued at 6.3 cents per share.
3. Financial effects
The financial effects of the issue are shown in the table below:
Actual for Adjusted
six months to to reflect Percentage
31 December, 2003 general issue change
Net asset value (cents) 5,62c 5,57c -0,9%
Earnings per share (cents) 0.247c 0,245c -0,9%
Net tangible asset value
per share 3,98c 3,94c -0,9%
Headline earnings per share 0,388c 0,384c -0,9%
Application for listing
An application for listing of the outstanding shares has been submitted to the
JSE Securities Exchange SA (`JSE`).
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Johannesburg
30 June 2004
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
