Enterprise Outsourcing Holdings (EOH), which listed on the Venture Capital Market last year, announced today their intention to move to the Information Technology sector of the JSE lists after publishing their annual results in August 1999.
During their first six months reporting period, the EOH group has achieved an earnings per share of 5,28 cents, outperforming their 12 months to 31 July 1999 prelisting forecast of 5 cents, as well as achieving a 109% of the full year forecast attributable earnings by growing the business organically.
"The fact that we have exceeded our pre-listing projection already at interim stage and continue to do well, will ensure that the company will meet all the requirements of the JSE and qualify for a main board listing," says EOH CEO, Asher Bohbot.
With strong organic growth, five focused acquisitions as well as more than 1300 committed individual shareholders, EOH has now achieved the profit history and the required shareholder-spread for such transfer.
Since establishing itself as a leading, focused organisation specialising in business systems, management considered it a strategic decision to move to the main board, securing EOH`s continued growth and shareholder support.
"EOH has grown its intellectual capital base four fold, upping the number of IT professionals from 36 to 140. Our growth has not gone unnoticed, several institutions have taken-up significant holdings in EOH after our listing, including ABSA Asset Management. The vendor placement and accumulated profits have provided the company with adequate capital resources which will assist us to grow our core business organically and acquisitively over the coming months," Bohbot concludes.
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