Reuters logo
BRIEF-M-Fitec enters sale of shares agreements with 3 groups' shareholders
March 15, 2017 / 6:51 AM / 9 months ago

BRIEF-M-Fitec enters sale of shares agreements with 3 groups' shareholders

March 15 (Reuters) - M-fitec International Ltd -

* Entered into sale of shares agreements with shareholders of each of three groups that collectively comprise viable asset acquisition

* Agreements with Wizzit Group Proprietary, Wizzit Payments, Wavelengths 202 Proprietary, Magix Security Proprietary

* Agreements with Finteq Africa Proprietary, its wholly owned subsidiary Finteq Proprietary Limited

* M-Fitec will acquire 87.01 pct of issued share capital of Wizzit for 104.4 million rand

* M-Fitec will acquire entire issued share capital of Magix for 12.5 million rand

* Buy share capital of Finteq Africa; will hold 70% of share capital of Finteq, for initial net purchase price of 52.8 million rand Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below