Beget Holdings` shareholders have approved the group`s R12.63 million acquisition of the remaining minority interest in Beget Interactive, it says.
Beget Interactive, a value-added reseller and distributor of business information solutions, is the operating company of Beget.
The ordinary resolution needed to approve the acquisition, first announced last September, was presented to shareholders at a general meeting this week.
JSE-listed Beget is to issue 36 million shares at 20c each as partial payment for the shareholding, with a cash payment of R5.425 million making up the balance.
The acquisition includes related intellectual property rights owned by the sellers, Excellular Systems and an Excellular director.
Beget incurred an after-tax loss of R2.7 million for the 12 months to December 2005, compared with a prior-year loss of R2.99 million.
This translated into a loss and headline loss per share of 0.68c (0.72c). The group has changed its year-end to April.
CEO Andr'e Potgieter last month attributed the performance to investments in the upgrade of the group`s MobileBIO product and in the roll-out of voice over Internet Protocol services, as well as increased overhead costs in gearing up sales and management.
The Beget share was untraded at 5c on the JSE this morning.
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