Shareholders in Millennium Information Technology Holdings (Milprop) will know by the end of the month whether their company`s share will continue to be listed on the JSE.
Milprop, formerly Millennium Property Holdings, is a property investment holding company which is engaged in talks which, if concluded, will see it change into an investment holding company in the IT, telecoms and property interests.
Milprop sold its property letting business, including the property portfolio and certain subsidiaries, in January 2000. The JSE suspended the company`s listing in November 2000 after Milprop failed to acquire viable assets in terms of the conditions for its continued listing.
The current talks centre on the possible acquisition of assets, resulting in a reverse takeover, in which event it will apply to the JSE`s listings committee to have the listing continue.
"It is uncertain whether the listings committee of the JSE will allow the company`s listing to continue following the proposed acquisition," Milprop says.
"Should the company fail to conclude a binding agreement and publish a full announcement in the press by Thursday, 28 February 2002, the company`s listing on the JSE will be terminated," it adds.
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