Metrofile Holdings, formerly MGX Holdings, says the implementation of its black economic empowerment (BEE) deal has been extended to 21 February.
The group, which began trading under its new name on Monday, says the extension was caused by delays in the registration of a special resolution relating to the subdivision of its ordinary share capital.
The delays have affected not only the BEE deal, which sees Mineworkers Investment Company acquire a 25% stake, but also the sale of 5% to an employee share trust and 5% to Sabvest Investments, a company headed by former MGX chairman Christopher Seabrooke.
The date of the fulfilment of the suspensive conditions for all these deals will now be 21 February.
MGX changed its name to Metrofile Holdings after disposing of all its operations with the exception of Metrofile, a records management company.
The restructuring came after the group admitted in November 2003 that it had been on the verge of collapsing.
This was the result of high debt levels, a deteriorating trading performance and legal disputes.
The Metrofile share was trading unchanged at 19c on the JSE this morning.
Related stories:
MGX sells more of Metrofile
MGX sells Metrofile stake
Share