Dialogue has signed an agreement, dated 2 October 2007, for the the MSG Consortium to subscribe for 70 373 832 new ordinary shares representing 25.1% of the enlarged Dialogue share capital for a total consideration of R113,3-million.
According to a SENS announcement the transaction will further ensure that Dialogue meets its BEE aspirations at all levels including black share ownership.
The transaction will result in the group`s total BEE ownership exceeding 30%.
The funds raised will be used to finance the acquisition of controlling interests in each of Continuity SA (Pty) Ltd and CallForce Direct (Pty)Ltd as previously announced and to provide additional capital for further
strategic growth and expansion of the group`s operating capabilities.