The company sold its only operating subsidiary, Prime support (Pty) Ltd, in the 2006 financial year and now represents a cash shell company. The operations of the company reflect increased interest income earned on increased bank balances, as well as rental income earned up to the final date of disposal of the buildings. The company has further incurred costs, mainly associated with the proposed transfer of the listing from the DCM of the JSE to the AltX upon implementation of the acquisition transaction of SDT Financial Software Solutions (Pty) Ltd (SDT). The consideration of the acquisition of the claims and shares in SDT was for R50 million, which has been settled by the issuing of 25 million consolidated ordinary shares in Synergy Holdings Ltd at a price of 200cps. The group reported a headline loss of 0.85cps (loss of 0.05cps) for the six months period ended 31 August 06.
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