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Pinnacle Technology Holdings Ltd Acquires 29.79% Of Issued Ordinary Share Capital Of Datacentrix Holdings Ltd


Thursday, 6 Jun 2013 10:43am EDT 

Pinnacle Technology Holdings Ltd announced that it has entered into an agreement with Co-ordinated Network Investments Proprietary Limited and Hoolican Investments Proprietary Limited (collectively the Sellers) in terms of which Pinnacle (or a nominated wholly owned subsidiary of Pinnacle), will acquire in one indivisible transaction, 61,152,467 ordinary shares (Acquired Shares) in Datacentrix Holdings Limited (Datacentrix) in an off-market sale and purchase (the Acquisition). The Acquired shares represent approximately 29.79% of the issued ordinary share capital of Datacentrix Holdings Ltd. Datacentrix is a recognised services-led Information and Communication Technology (ICT) solution integrator in South Africa, focusing on the provision of managed services and business solutions. The purchase consideration for the Acquired Shares is 388 cents per share (Price per Acquired Share) or a cumulative total of ZAR237,271,572 (two hundred and thirty-seven million, two hundred and seventy-one thousand, five hundred and seventy-two Rand only) as calculated by multiplying the Acquired Shares by the Price per Acquired Share (Purchase Consideration), which Purchase Consideration is payable in cash. The Purchase Consideration will be funded out of existing cash resources and credit facilities available to Pinnacle. 

Company Quote

1185.0
-35.0 -2.87%
19 Dec 2014