Venture capital company John Daniel Holdings (JDH) said Thursday it has entered into negotiations with investment company Escalator Capital and Escalator Capital Global‚ the holding company and majority shareholder of Escalator Capital‚ with the intention of acquiring some or all of the equity and/or assets of Escalator Capital.
Escalator Capital is the controlling shareholder of JDH.
If negotiations are successfully concluded‚ they may have a material effect on the price of the company´s securities‚ it said.
Furthermore‚ the successful acquisition of some or all of Escalator Capital´s equity and/or assets could result in a reverse takeover or alternatively a Category 1 acquisition as defined in the Listings Requirements and will require shareholder approval in General Meeting.
A reverse takeover would require‚ inter alia‚ JSE approval for the continued listing of the company´s securities.
Shareholders were advised to exercise caution in dealing in their securities until a further announcement is made. - I-Net Bridge