With effect from 18 August 1998, Poynting acquired an 83% shareholding in EM Simulations (Proprietary) Limited, the software development subsidiary of Poynting, from Derek Nitch, and issued shares in Poynting as settlement of the purchase consideration payable in respect thereof. EM Simulations (Proprietary) Limited was incorporated on 21 June 1993, and on 18 August 1998, EM Simulations (Proprietary) Limited changed its name to Poynting Software (Proprietary) Limited. Juergen Dresel joined Andre and Derek shortly thereafter and became a shareholder of Poynting.
Poynting has its roots in an electromagnetic consulting business, first established by Dr Andre Fourie in 1990 at Wits University under the name Givati Fourie and Associates. In 1997, Givati Fourie and Associates underwent a restructure. As part of which restructure Poynting was incorporated on 11 July 1997 with the name CCG042 Investments (Proprietary) Limited to conduct business as designers and manufacturers of antennas including, inter alia, Radio Frequency Identification tag design and antenna production.
In 2001, Poynting Antennas, a wholly-owned subsidiary of Poynting, was formed and Poynting moved to its current premises in Wynberg, Sandton. Poynting Antennas was initially financed by the shareholders of Poynting and a start-up loan of R1.5 million for working capital from the Industrial Development Corporation, which loan has subsequently been repaid. Products and antennas have been developed with the further aid of various Government grants.
In late 2004, Poynting Antennas divided its activities into two divisions: The Commercial Antenna Division, which manufactures low cost antennas for wireless and cellular end-user antenna applications, and the Defence and Specialised Antenna Division, which focuses on Electronic Warfare antennas mainly for direct or indirect export to international defence customers. |
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