Bytes Technology Group`s offer to buy CS Holdings is to close at noon on 19 November, three weeks after the original closing date on 29 October.
BTG said last month that the conditions precedent had not yet been fulfilled and it was extending the offer, although it has not announced the new closing date until now.
BTG is offering to acquire the entire issued share capital of CSH by issuing BTG shares in the ratio of one BTG share for every 37 CSH shares held, which equates to a price of 15.68c per CSH share.
The group said previously that it had received undertakings to accept the offer in respect of 86% of CSH`s issued share capital.
"BTG and CSH have been advised by CSH`s transfer secretaries that shareholders holding 78 290 252 CSH shares have to date formally accepted the offer, representing 31.9% of the issued share capital of CSH," it says.
It adds that it will continue to advise shareholders of further acceptances.
CSH has maintained that the deal is critical if it is to survive. The group`s latest set of financial statements, for the year to 30 June, showed that it was technically insolvent at the year-end.
CEO Dave Vink has said that the group is dependent on the continued support of its bankers, which would not be possible without the intervention of a white knight such as BTG.
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