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InfoWave graduates

By Iain Scott, ITWeb group consulting editor
Johannesburg, 13 Oct 2005

InfoWave`s listing is to be transferred to the JSE`s main board from Monday.

The company, which specialises in software solutions using Oracle technology, listed its share in the development capital market in 1998.

The share is to be moved to the JSE`s IT - computer services sector.

The group achieved pre-tax profit of R8.3 million for the year to February 2005, which qualifies it for a main board listing.

Pre-tax profit for the half-year to August was R3.7 million.

The directors said earlier this month that the company was satisfied with the health and organic growth of the core business and the group was pursuing niche software business acquisitions aimed at growth and diversification.

The InfoWave share was trading unchanged at 59c this morning, after gaining 2c yesterday.

Related story:
InfoWave prepares for acquisitions

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