The listing of SMS software group Beget Holdings, originally planned for last Friday, has been delayed until the end of the month.
MD Andr'e Potgieter says the group had to change its forecasts in the original prospectus as a result of a recent acquisition.
The figures have now been calculated and have been sent to the JSE.
The acquisition of SmartCast, which is involved in permission-based marketing using short message services, cost Beget R7.325 million.
This is to be paid through the issue of 28.5 million Beget shares at 15c and R200 000 in cash, with the remaining 28.5 million shares to be issued over the next three years, based on performance.
Potgieter says the listing is still going ahead and should take place at the end of this month or the beginning of next.
He says the SmartCast merger has created the largest permission database in SA of profiled customers who consent to receive messages via SMS.
The acquisition is expected to add after-tax profits of R2.1 million to Beget`s 2003 financial year forecast, originally put at R5.33 million.
Beget Holdings is a holding company with a 100% interest in Beget Solutions, which has three divisions, Orbes Dynamics, Eze-Bill and TM Commerce. The group develops and distributes software enabling its client base to combine database management with Internet thin client technology and link it to e-commerce, using the GSM cellular platform as the carrier.
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