Net1 Applied Technologies SA has received High Court approval for the scheme of arrangement by which it is acquiring Prism Holdings for R686.94 million.
The court order was registered by the Registrar of Companies yesterday.
As the deal has already received Competition Commission approval, all the conditions required for the scheme have now been fulfilled.
The groups announced last week that the merger had received Competition Commission approval, earlier than had been expected.
As a result, the salient dates relating to the deal were moved forward, with the delisting of the Prism share moved to 4 July, from the previously announced 18 July.
Prism says in a notice to shareholders that the operative date of the scheme will be at the start of trading on 3 July.
The Prism share was trading 1c or 0.9% down at 114c on the JSE this morning, after gaining 1c yesterday.
Related stories:
Prism sale gets nod
Thumbs up for Prism sale
Prism board backs Net1 offer
Altech has other plans
Prism in tug-of-war
Counterbid lights Prism share
Takeover news boosts Prism
Share
