Zaptronix - Clarification Statement
Zaptronix Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/014928/06)
Share code: ZPT ISIN: ZAE000015145
(`Zaptronix` or `the company`)
CLARIFICATION STATEMENT
It has come to the attention of management that press articles covering the
announcement by Zaptronix of its acquisition of DuO Solutions Provider Limited
(`DuO`) have reported that Zaptronix may delist from the JSE Securities Exchange
South Africa (`the JSE`).
The directors and major shareholder in Zaptronix, Gandalf Trust, would like to
make it clear that this is not the case and that it has never been the intention
of either Zaptronix, DuO, the directors of the merged entity or the corporate
advisors to the transaction to delist Zaptronix. The reference in the
announcement of the transaction to the uncertainity of the continued listing is
a JSE Listings requirement, in that the transaction amounts to a reverse
takeover and is accordingly subject to the JSE`s assessment of the suitability
for listing of the company after the proposed acquisition.
The trustees of Gandalf Trust, the restructuring advisor to Zaptronix, advise
all stakeholders that their involvement in companies is aimed at refocusing
business operations and seeking new opportunities for such companies, with the
intention of restoring value for shareholders. It is accordingly never their
intention to delist the companies in which they become involved.
Shareholders are accordingly re-assured that it is the intention of the
directors to retain the Zaptronix listing and to build the company through
organic growth and future acquisitions.
Johannesburg
22 July 2004
Sponsor & Joint Corporate Advisor Restructuring Advisor
Corporate Advisor
River Group Radagast Capital (Pty) Ltd Gandalf Trust
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