AltX-listed DataPro has announced the early conclusion of its acquisition of consumer Internet service provider (ISP), Atlantic Internet Services.
DataPro, which until now has operated exclusively in the corporate ISP space, announced the Atlantic acquisition earlier this month.
The R45 million purchase price was to be paid through the issue of about 85.39 million vendor shares to be placed primarily with third parties at a price of 52.7c a share - a 10% discount to the 30-day weighted average price of DataPro shares.
The group says in a notice issued yesterday that the deal was subject to the placing of 71.16 million vendor shares with third parties.
"The directors have received irrevocable applications for 133 245 800 vendor shares and accordingly advise that the offer has been closed earlier than anticipated."
It adds that applicants will be advised of allocations next week and the shares will be listed on 31 August as originally planned.
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