Zaptronix Limited - Update Announcement
Zaptronix Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/014928/06)
Share code: ZPT ISIN: ZAE000015145
(`Zaptronix` or `the company`)
TRANSACTION UPDATE: ACQUISITION OF DuO SOLUTIONS PROVIDER LTD (`DuO`)
The announcements dated 7 December 2004, 10 January 2005 and 4 February 2005,
which included details on the 1:2 consolidation of Zaptronix`s share capital and
the proposed acquisition of the entire share capital of DuO, have reference.
The JSE Securities Exchange South Africa (`the JSE`) has approved the business
plan of the new enlarged business in terms of the JSE`s Venture Capital Market
requirements. A circular detailing the terms and arrangements of the DuO
acquisition will be posted to shareholders as soon as formal approval for the
circular, has been obtained from the JSE. The circular will contain notice of a
general meeting at which shareholders will be asked, inter alia, to approve the
acquisition of DuO.
The board is also pleased to announce that the strategic refocusing of the
company to offer risk management solutions to companies in the energy management
and transport logistics industries has gained considerable momentum in the last
three months. Much of the groundwork currently being laid will enhance the
trading performance only in the next financial year, but management is extremely
encouraged by the initial response in the market place to its newly launched
initiatives.
Midrand
21 June 2005
Sponsor Corporate Advisors Restructuring Advisors
River Sponsors (Pty) Ltd Radagast Capital (Pty) Ltd Gandalf Trust
Date: 21/06/2005 01:28:59 PM Produced by the JSE SENS Department
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