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Poynting in R110m RNS deal

Poynting to acquire 100% of the issued share capital of RNS.

Poynting has entered into a Heads of Agreement with Radio Network Solutions Proprietary Limited (RNS), Graham Diss, Richard Hill, Willie Keulder and Neil Nordgaard, to acquire 100% of the issued share capital of RNS from Graham Diss, Richard Hill, Willie Keulder and Neil Nordgaard – who have agreed to dispose of their individual shareholdings of 31%, 31%, 7% and 31%, respectively, for a total purchase consideration of R110 million to be settled by way of R60 million in cash and the issue of 18 181 818 Poynting shares at an issue price of 275 cents per share, as well as an additional earn-out amount, limited to a maximum of R10.2 million to be settled in cash or in Poynting shares.

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