UCS Group has withdrawn its cautionary after detailing the financial effects of the CEB Maintenance acquisition.
UCS announced last month that it had agreed to buy CEB, a third-party implementation and maintenance services provider, for R48 million.
The acquisition is being carried out by Four Arrows Investments 202 (Newco), a subsidiary of UCS Solutions, which is a wholly owned subsidiary of UCS Group.
However, UCS has still been trading under a cautionary notice, since the financial effects of the deal were not disclosed until now.
Assuming the deal was implemented on 31 March this year, UCS would have reported headline earnings of 6.3c a share for the six months to that date, as opposed to the reported 5.7c a share. Earnings per share would have been 5.2c instead of 4.8c.
Had the deal been effected on 1 October last year, the net asset value would have been static at 85.2c a share, but the net tangible asset value would have been 24.8c a share, instead of the reported 35.2c a share.
The group says the information is for illustrative purposes only and may not give a true picture of its financial position and performance.
The UCS Group share closed at 120c on the JSE on Friday, down 6c or 4.8% from the previous close. However, it was trading at 130c by midmorning today.
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