DataPro acquisition approved

By Iain Scott, ITWeb group consulting editor

Johannesburg, 28 Sept 2004

Casey`s shareholders have unanimously approved the acquisition of DataPro, among other things.

The acquisition of DataPro, an Internet service provider, is essentially a reverse listing by DataPro into Casey.

Casey became a shell last year after its former directors, in conjunction with then-owner Black IT Empowerment Company (Blitec), closed down all its divisions and laid off all staff members.

While Blitec retained a 9% shareholding in Casey, the directors of Level 4 Group acquired control of 75% of the company from Blitec.

At the same time the Level 4 directors entered into talks that resulted in the acquisition of 100% of DataPro.

Casey shareholders voted yesterday to go ahead with the deal and also approved special resolutions relating to the change of name from Casey to DataPro Group and the adoption of new articles of association.

The name change, as well as a transfer of the listing to the JSE`s alternative exchange, AltX, is to take place on 18 October.