The acquisition of SecureData by MB Technologies has been finalised and will go ahead during March.
The announcement of the acquisition was made on 20 November 2013, whereby MB Technology offered to acquire the entire issued ordinary share capital of SecureData excluding 227,128-million treasury shares by means of a scheme to be proposed by SecureData.
Following receipt from the Takeover Regulation Panel of a compliance certificate in terms of section 119(4)(b) of the Companies Act in respect of the scheme on 4 December 2013 and receipt from the Competition Tribunal of approval for the implementation of the scheme on 26 February 2014, all outstanding conditions precedent to the scheme have now been fulfilled.
This means that the last day to trade in SecureData shares will be 7 March and the shares will be suspended form the JSE on 10 March.
By 14 March, shareholders must be recorded in the Register to participate the acquisition scheme, which will become operative on 17 March, on which date considerations will be paid.
SecureData shares will be terminated from the JSE on 18 March.