Ann Crotty Writer-at-large

Sagarmatha Technologies had built solid, scalable technology platforms and was well positioned to expand through organic growth or through acquisition, the company’s joint CEOs said on Tuesday with the release of results for the year to end-December 2017. "Management is focused on its strategic plan to become the largest technology platform company on the African continent," said Grant Fredericks and Gary Hadfield. The release of the results is in line with the conditions set down by the JSE for the company to be listed on April 13. In addition to producing the 2017 annual financial statements by April 11, Sagarmatha must achieve a minimum subscription of R3bn and public shareholders must hold at least 20% of the company. The listing was scheduled for April 6 but was pushed out by a week. According to Sagarmatha, the delay was at the request of potential investors. The group has said it has received irrevocable commitments from five investors to purchase between R350m and R600m. The...

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