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Business Day TV speaks to Adapt IT CEO Tiffany Dunsdon Adapt IT had a tough year. The software services group has posted a 1% rise in annual revenue, as the effects of Covid-19 regulations weighed on its performance. Alishia Seckam spoke to Adapt IT CEO Tiffany Dunsdon for her perspective on the results...Read More

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End of share-swap leaves 29% of Adapt IT investors still on the fence over Volaris offer...Read More

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Adapt IT shareholders yesterday voted overwhelmingly in favour of Canadian software group Volaris’s buyout offer. Yesterday, shareholders adopted all resolutions set out in Adapt IT’s notice of general meeting with regards to the Volaris cash offer of R7 per Adapt IT share, including delisting from the JSE following the implementation of the transaction, if required. Some 69.82% of Adapt IT shareholders, holding 95 834 979 shares, voted in a move that has now sealed the fate of the Huge Group bid. The two companies, Huge Group and Volaris, have been aggressively pushing Adapt IT shareholders to accept their respective offers. The Volaris offer accepted by majority shareholders yesterday was tabled last month after rival suitor Huge Group presented Adapt IT shareholders with a fresh offer of R9.09 per share from the initial R5.52. The offer price baiting followed recommendations by Nodus Capital, which Adapt IT appointed to evaluate the bid, that a fair price range for Adapt IT is R7...Read More

Michael Mncube CaseWare Africa CaseWare Africa, part of the Adapt IT, has launched a holistic, cloud-based tax return solution designed especially for trusts. Michael Mncube, Tax Product Manager at CaseWare Africa, says that the new software enables tax practitioners to handle all tax administrative matters relating to trusts in one application, including the preparation, calculation, and submission of IRP6 and ITR12T tax returns directly to SARS. “Administering trusts is complex and the tax authorities are especially rigorous in their oversight of trusts, thus further raising the stakes for administrators. Trust Tax provides practitioners with a single application that makes it possible to keep track of all trustees and beneficiaries, as well as managing all trust administration and tax-related matters,” he says. “In the age of remote work, practitioners are enabled with greater flexibility as Trust Tax is offered via CaseWare Cloud, which means it is available from any location, on...Read More