SNG
SNG
Synergy - Transaction Update
Synergy Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1995/006315/06
Share code: SNG & ISIN: ZAE000017760
("Synergy" or "the Company" or "the Group")
TRANSACTION UPDATE: ACQUISITION OF SDT FINANCIAL SOFTWARE SOLUTIONS (PTY) LTD
("SDT") AND RELATED MATTERS
Shareholders are referred to the announcements dated 2 May 2006 and 1 June 2006
detailing the proposed reverse-takeover acquisition of SDT, incorporating a
reconstitution of the company"s activities and a change of name to SilverBridge
Holdings Limited.
The company wishes to advise shareholders that the transaction has been delayed
due to certain historic accounting and company secretarial matters, which were
incorrectly executed prior to the change of control of the Company (in December
2005).
The Company is in the process of rectifying these matters. Such matters will
have no material commercial impact on the reconstituted Group and, other than
the delay, are not expected to impact on the implementation of the transaction.
The board expects these matters to be dealt with in the course of the following
weeks, at which point the process will resume to obtain regulatory approval of
the circular (and revised listing particulars), and to print and post the
circular to shareholders.
The newly constituted board of Synergy and the vendors of SDT remain committed
to the implementation of the takeover and reconstitution of the Company.
Pretoria
1 August 2006
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 01/08/2006 11:34:08 AM Produced by the JSE SENS Department
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