Rex Trueform increases stake in digital innovator Byte Orbit to 51%

Rex Trueform Group Limited announced on August 27, 2025, that it will increase its equity interest in Byte Orbit Proprietary Limited from 30.02% to 51.02% through a Sale Agreement effective September 1, 2025. This acquisition of an additional 21% stake involves the purchase of 2,047 Byte Orbit ordinary shares from a majority shareholder for a consideration of R21,000,000.00. The consideration will be satisfied by issuing 1,694,915 new Rex Trueform “N” ordinary shares at R12.39 per share, based on the volume-weighted average price as of August 22, 2025.

Byte Orbit, established in 2003, specializes in digital innovation and full product lifecycle solutions. Rex Trueform’s increased investment aims to leverage future growth opportunities, explore emerging markets, integrate advanced technologies, and enhance Byte Orbit’s market presence through strategic partnerships. This transaction follows Rex Trueform's initial acquisition of a 30.02% stake in Byte Orbit in December 2024.

As of June 30, 2025, Byte Orbit's net asset value for 100% of the company was R33.5 million, with a net profit after tax of R3.5 million for the four-month period ending on the same date. The transaction is classified as a category 2 transaction under JSE Listings Requirements and, when aggregated with the December 2024 transaction, remains a category 2 transaction, not requiring shareholder approval.