Didata to suspend its shares on JSE

2010-10-21 14:58

Johannesburg - International ICT company Dimension Data Holdings [JSE:DDT] said Thursday that trading in its shares on the JSE will be suspended with effect from 26 October.

This is in connection with the compulsory acquisition of DiData shares by NTT, who will despatch notices to shareholders who have not validly accepted the offer. From that point until delisting takes place, it will no longer be possible to trade Didata shares on the JSE, although it will still be possible for holders of Didata shares to accept the offer should they wish to do so.

Trading in DiData shares on the London Stock Exchange will continue as normal during this period until delisting takes place.

On 11 October, NTT announced that the offer had been declared wholly unconditional and that, as valid acceptances had been received in respect of 90% or more of the Dimension Data Shares to which the offer relates.

An announcement providing further information in relation to the compulsory acquisition procedure and the date of the delisting will be released on the date upon which the notices are despatched.

On July 15 NTT and Dimension Data announced that they reached agreement on the terms of a cash offer to be made by NTT for DiData's entire share capital for approximately £2.1bn.

All the regulatory clearances for the deal have been received.  In terms of the deal DiData is to be delisted from the JSE and LSE.      

  • Not Fooled - 2010-10-22 10:38

    I don't think this is such a good deal anymore, given the current exchange rate. I also wonder if shareholders will be elligable for dividends, considering that the year end was the 11th October.

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