Software and IT services company UCS is considering delisting from the JSE just weeks after finalising a deal to sell a large chunk of its operations to Business Connexion (BCX).

UCS joins companies such as Mustek and TeleMasters that are in the process of taking themselves private. Vox Telecom is also strongly rumoured to be in talks about a shareholder restructuring and delisting.

The company says the relatively small size of the remaining operations held by UCS, plus the relative size of other listed companies in the software and services sector of JSE, means that a listing may no longer be in its best interests.

The board has appointed One Capital and Glyn Maris as its corporate and legal advisors respectively to take the potential delisting forward and look at all options.

UCS has also tasked auditing firm KPMG to valuate the remainder of the business not sold to BCX.

“The midpoint of the preliminary value range arrived at by the independent expert equates to approximately R62,3m, or about 21,1c per UCS share, excluding any upside events,” the company says in a statement.

UCS was trading at 41c/share, up 13,9%, on Monday afternoon.

UCS says shareholders should note that the preliminary valuation could differ from the final valuation for delisting. — Staff reporter, TechCentral