Life Health­care re­duces right of­fer

The Star Early Edition - - BUSINESS REPORT -

PRI­VATE hos­pi­tal group Life Health­care has re­duced the pro­posed rights of­fer to re­duce debt and fund the ac­qui­si­tion of UK Al­liance Med­i­cal Group from R10.7 bil­lion to R9bn, af­ter en­gage­ment and con­sul­ta­tions with share­hold­ers, the com­pany said last Fri­day. “The Board be­lieves that this pro­posed eq­uity cap­i­tal rais­ing bal­ances the views ex­pressed by share­hold­ers re­gard­ing the com­pany’s net debt po­si­tion, fi­nan­cial flex­i­bil­ity and abil­ity to con­tinue pay­ing dividends go­ing for­ward.” The im­ple­men­ta­tion of the rights of­fer is sub­ject to share­hold­ers’ ap­proval. – Siseko Njobeni

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