BRIEF-M-Fitec enters sale of shares agreements with 3 groups' shareholders

  • Reuters
  • Stock Market News
BRIEF-M-Fitec enters sale of shares agreements with 3 groups' shareholders
Credit: © Reuters.

March 15 (Reuters) - M-fitec International Ltd MFIJ.J -

* Entered into sale of shares agreements with shareholders of each of three groups that collectively comprise viable asset acquisition

* Agreements with Wizzit Group Proprietary, Wizzit Payments, Wavelengths 202 Proprietary, Magix Security Proprietary

* Agreements with Finteq Africa Proprietary, its wholly owned subsidiary Finteq Proprietary Limited

* M-Fitec will acquire 87.01 pct of issued share capital of Wizzit for 104.4 million rand

* M-Fitec will acquire entire issued share capital of Magix for 12.5 million rand

* Buy share capital of Finteq Africa; will hold 70% of share capital of Finteq, for initial net purchase price of 52.8 million rand Source text for Eikon: ID:nJseO0003a Further company coverage: MFIJ.J

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