All the agreements relating to the Mineworkers Investment Company`s acquisition of 16.89% of Prism Holdings have been concluded, with only shareholder approval outstanding.
MIC is acquiring the stake through an offer to existing shareholders.
The deal will see BEECo, which will initially be a Prism subsidiary, buy 100 million Prism shares by making a pro rata offer to Prism shareholders to acquire 16.89 shares for every 100 shares held. The offer price is 40c a share.
Shareholders are to meet on 24 March to vote on the deal.
Financial director Jan Hnizdo says shareholders representing 47% of Prism`s shares have provided irrevocable undertakings to vote for the deal.
The offer closes on 15 April and Prism says it hopes to wrap up the deal on 18 April.
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