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DTP
DTP
DataPro Group - Acqusition of Definity Namibia
Datapro Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/016433/06)
Share code: DTP ISIN: ZAE000058061
("DataPro Group" or "the company")
ACQUISITION OF THE SHARES AND CLAIMS IN DEFINITY TELECOM (PROPRIETARY) LIMITED
SITUATED IN NAMIBIA
1. Introduction
The directors are pleased to announce that, following DataPro"s acquisition
of the shares and claims in Definity Telecommunications (Proprietary)
Limited ("Definity"), which was previously announced on SENS on 16 May
2006, DataPro has acquired the offshore operations of Definity, namely
Definity Telecom (Proprietary) Limited ("Definity Telecom") situated in
Namibia, which was separately owned by the original vendors of Definity.
All conditions precedent to the transaction have been fulfilled.
2. Rationale for Acquisition
Definity Telecom is one of two Least Cost Routing ("LCR") businesses that
supplies telephony services to medium and large corporations in Namibia.
The acquisition is important for DataPro as an entry point into Sub Saharan
Africa. Definity Telecom will immediately enhance the earnings of DataPro
and will also add a high-quality annuity customer base complementary to
that of VoxTelecom and Definity.
DataPro will continue to be a significant player in the consolidation of
the ISP and voice industry driven both by an effort to gain critical mass
and to entrench its entry into complementary market segments such as ISP
and LCR.
3. Payment for the Acquisition
The purchase price for Definity Telecom will be settled in cash. Pro forma
financial effects are not material and do not require disclosure.
In accordance with AltX Listings Requirements, shareholders are advised of the
risks of investing in a company listed on AltX and that the JSE does not
guarantee the viability or the success of a company listed on AltX. In terms of
JSE Listings Requirements a Designated Advisor has to be retained by the
company. The Designated Advisor is required to, inter alia, attend all board
meetings held by the company to ensure that all JSE Listings Requirements and
applicable regulations are complied with, approve the financial director of the
company and guide the company in a competent, professional and impartial manner.
If the company fails to retain a Designated Advisor it must make arrangement to
appoint a new Designated Advisor within 10 business days, failing which the
company faces suspension of trading of its securities. If a Designated Advisor
is not appointed within 30 days of its suspension the company faces the
termination of its listing without an offer to minorities.
Johannesburg
19 October 2006
Company Secretary Designated Advisor
Arcay Client Support (Proprietary) Limited Arcay Corporate Services
Registration number 1998/025284/07
Date: 20/10/2006 10:45:03 AM Produced by the JSE SENS Department
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