Zaptronix in BEE deal

Johannesburg - JSE-listed Zaptronix Limited (ZPT), specialist providers of risk management services in the energy and mobile logistics fields, on Friday announced a Black Economic Empowerment (BEE) transaction with Royal Bafokeng Capital (Pty) Limited (RBC), in terms of which RBC will acquire 30% of Zaptronix' existing issued ordinary share capital.

The company also announced its intention - following a recommendation by the AltX Advisory Committee - to apply to the JSE for the transfer of its listing to AltX.

Zaptronix chief executive officer Jan Nel says the BEE transaction with RBC is a "crucial step" in positioning Zaptronix for future and acquisitive growth.

"BEE status places the company in a favourable position to secure future private and governmental business where such status is a prerequisite; further, it will strengthen Zapronix' hand as an acquirer of businesses, a process initiated through the acquisition of mobile logistics management services player DuO SP Limited in September 2005."

RBC is a subsidiary of of Royal Bafokeng Finance (Pty) Limited, an investment vehicle of the Royal Bafokeng Nation.