ICT multi-national, Spescom, has announced that the revised offer from black owned fund management company, Vantage Capital, as announced on SENS on the 8th April 2004, has today received shareholder approval.
Under the terms of the revised offer, Vantage Capital will acquire 25.4% of Spescom Limited, for R24 000 000. This is equivalent to an increased price of 120 cents per share.
The Vantage Group is majority black owned with a broad based shareholding, including a holding by Thusano Trust - the beneficiaries of which include a number of NGOs.
Spescom's CEO, Tony Farah, explains the rationale behind Spescom's recent BEE initiatives.
"In South Africa, a major part of Spescom's core business activities lies in the para-statal and quasi government sector. Partnering with appropriate BEE companies will assist in driving Spescom's business objectives in this area. Furthermore, the recent BEE developments within the group will also facilitate Spescom's goals in the employment equity, affirmative procurement and retention of high quality black professionals," says Farah.
He adds it is anticipated that the combined result of the recent BEE initiatives will be to effect true transformation within the Spescom Group.
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Spescom is a multi-national technology innovator with direct operations in the US, UK and South Africa.
The group is publicly listed on the JSE Securities Exchange SA (Spescom Ltd), and on the NASDAQ OTCBB : SPCO (Spescom Software Inc).
Spescom addresses the information and communications technology market providing both products and solutions to connect to the network economy, as well as enterprise software to manage information and knowledge.
Specifically, Spescom provides solutions in the areas of access network; enterprise information management; multimedia transaction recording; broadcast; customer contact centres; and test & measurement.
Spescom markets its products worldwide through appointed partners and distributors under the eB brand for its enterprise software, and the DataVoice brand for its multimedia transaction recording solutions.
Spescom's global customer base consists of multi-national organisations including leading enterprises in the utilities, telecommunications, transportation, financial, banking and insurance sectors.
Worldwide, customers include Siemens, British Telecoms, Network Rail (formerly Railtrack), Lloyds of London, Barclays Bank, Abbey National Bank, WH Smith, Caterpillar, Bechtel, AmerenUE, Entergy, Bombardier, Ocean Energy, Sempra Energy, Telkom, SABC, Old Mutual, Eskom, Transnet, First National Bank.
For more information on Spescom, please visit www.spescomsoftware.com.
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