Views Article – Sharenet Wealth

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Unicorn Capital Partners Says Absa To Subscribe For Preference Shares In NHC At Subscription Price Of R50 Mln

Dec 9 (Reuters) – Unicorn Capital Partners Ltd:

* CATEGORY 1 DISPOSAL TO RELATED PARTIES

* ABSA TO SUBSCRIBE FOR PREFERENCE SHARES IN NHC AT SUBSCRIPTION PRICE OF R50 MILLION TO SETTLE AMOUNT OWING BY UNICORN TO ABSA

* OFFERORS WILL ALSO BUY 41% OF NEWCO SHARES FROM FEB 1 2020 OR LATER FOR PURCHASE CONSIDERATION OF R102.5 MILLION

* REEF GROUP PROPRIETARY AND CALIBRE INVESTMENT OFFERORS TO SUBSCRIBE FOR SHARES IN NEWCO FOR R25 MILLION

* BREAK-FEE OF R500 000 WILL PAYABLE BY UNICORN TO CIH IN RESPECT OF DISPOSAL OF EACH OF GEOSEARCH, RCH AND JEF

* OFFERORS TO BUY LOAN CLAIMS FROM CALIBRE TREASURY AND MANAGEMENT SERVICES PROPRIETARY & RECM & CALIBRE THAT ARE OWING BY CO

* SUBSCRIPTION PROCEEDS WILL BE UTILISED AS WORKING CAPITAL FOR JEF, GEOSEARCH AND RITCHIE

* CASH PORTION OF NEWCO DEAL PRICE TO BE USED FOR WORKING CAPITAL REQUIREMENTS OF OTHER SUBSIDIARY COS SPECIFICALLY NKOMATI Source text for Eikon: Further company coverage:


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