ICT multi-national, Spescom, has announced that the revised offer from black-owned fund management company, Vantage Capital, as announced on SENS on 8 April, has received shareholder approval.
In 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 CEO Tony Farah says: "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. 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."
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