Shareholders of listed company Stella Vista Technologies Limited yesterday approved a specific issue of shares to Woodlane (Pty) Limited, a company formed specifically for the investment in Stella Vista and of whom a major shareholder is Sahara Systems.
The transaction will result in Woodlane, a BEE company, holding a 25.1% stake in Stella Vista.
Sahara Systems is a major computer and related product supplier both in South Africa and within India and the sub-continent. Stella Vista is a world leader in state of the art multi-media mass communication systems, providing displays, control equipment and software equipment for a multitude of applications.
These multi-purpose products include scoreboards, video display screens, electronic perimeter boards and combined text and graphic messaging displays with real-time data capabilities. The synergies resulting from the new relationship are anticipated to be significant.
Dr Ali Bacher, chairman of Stella Vista, commented after the shareholder meeting: "The relationship with Woodlane and Sahara will open up tremendous opportunities and unlock new potential for Stella Vista. We are pleased to have embarked on this journey with Sahara."
Atul Gupta, chairman and MD of Sahara Holdings, who has also been invited to join the Board of Stella Vista, adds: “We are very pleased to enter into this market venture and partnership with Stella Vista. The obvious synergy between our companies and the ethos upon which we all base our activity is such that a merger to capture market share and improve upon our technology offering was a natural step and one that we look forward to nurturing,”
Muris Tabakovic, the CEO of Stella Vista, adds: "With the successful implementation of this new strategic relationship, the company expects to unlock significant value for shareholders in the medium to long term. We are extremely optimistic and look forward to a long and mutually beneficial relationship with Woodlane and Sahara."