Metrofile Holdings, the JSE-listed records and storage management specialist, has received an approach from an unnamed entity that wants to acquire it.
In a statement to shareholders on Friday before markets opened in Johannesburg, Metrofile said it has received an approach regarding the potential acquisition of its entire issued share capital.
“The board of Metrofile Holdings has constituted an independent sub-committee of the board to assess and consider the terms of the approach,” it said.
The company’s share price closed on Thursday at R1.65/share, up 5.8% on the session. Over the past year, it has shed 52.9% of its value, giving it a market capitalisation of R692.4-million.
Metrofile is led by former SAP Africa CEO and Microsoft South Africa MD Pfungwa Serima. — (c) 2019 NewsCentral Media