Esor rights of­fer terms have been pub­lished

The Star Early Edition - - COMPANIES - Roy Cokayne

LISTED con­struc­tion group Esor has pub­lished the terms of its pro­posed fully un­der­writ­ten rights of­fer to raise R37.54 mil­lion.

Esor will of­fer a to­tal of 98.79 mil­lion shares in Esor to qual­i­fy­ing share­hold­ers at a ra­tio of 25 rights of­fer shares for ev­ery 100 Esor shares held on the record date at a price of 38c a rights of­fer share.

Fe­bru­ary 3 is the record date for the pur­poses of de­ter­min­ing which share­hold­ers are en­ti­tled to par­tic­i­pate in the rights of­fer.

Re­pay credit

The full pro­ceeds from the rights of­fer will be used to re­pay a credit fa­cil­ity that was made avail­able to Esor by Geomer In­vest­ments, a ma­te­rial share­holder of Esor, to fund the ac­qui­si­tion by Esor in Oc­to­ber of pipe­line re­ha­bil­i­ta­tion com­pany Tu­boseal Ser­vices for R15m and the busi­ness as­sets and op­er­a­tions from Tu­boseal for R18.25m.

The rights of­fer is be­ing fully un­der­writ­ten by Geomer In­vest­ments.

It will open at 9am on Fe­bru­ary 6 and close at noon on Fe­bru­ary 17.

The re­sults will be an­nounced on Fe­bru­ary 20.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.