Bytes Acquisition Brings Significant BEE Component To Digital Healthcare Solutions

[Johannesburg, 06 May 2005]

On Tuesday 26 April 2005 the Competition Tribunal approved the acquisition by Bytes Technology Group Ltd (Bytes) of the Business Connexion and Netcare shareholdings in Digital Healthcare Solutions (DHS). Discussions have also been concluded for Bytes to acquire the United South African Pharmacies’ minority shareholding in DHS, thus making DHS a wholly-owned Bytes subsidiary. As a final step in this transaction, the resulting Bytes shareholding in DHS has been sold to its South African subsidiary, the vehicle in which Kagiso Trust Investments own 27%, thereby effectively including DHS in Bytes’ empowerment arrangement.

Hennie du Plessis, CEO of DHS says: "This change in shareholding is vital to the future of DHS. The empowerment shareholding places us in an ideal position to pursue emerging business opportunities in the public sector and enables our customers and trading partners to list DHS as a black empowered business from which they procure services. We are delighted to be a subsidiary of Bytes as we believe that DHS can benefit from the synergies of being uniquely associated with a very successful and rapidly growing listed IT company."

Editorial Contacts

Opportun@e
Lance Rothschild
E-mail : lance@opportunate.co.za
Tel No : 082 443 1530

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