Sentula looks to market to raise R105.58m
JOHANNESBURG (miningweekly.com) – Diversified miner Sentula has announced its intention to raise R105.58-million through a partially underwritten rights offer of 586.5-million shares.
This came amid discussions with its existing lenders with a view to concluding a debt restructuring agreement.
Sentula had entered into an underwriting agreement with JB Private Equity Investors Trust, which owned voting rights in relation to 19.78% of Sentula shares, in terms of which the latter would underwrite R10.44-million of the offer.
Expanding on the rationale of the offer, the company said on Thursday that it hoped the move would strengthen the balance sheet, restructure debt and
grow earnings.
“The offer, together with the debt restructuring, is expected to result in a sustainable long-term capital structure for the company, allowing for an improved capital structure and cash flows, which will provide stability to the group’s operations.
“It is also expected to achieve a normal debt maturity and interest rate profile, increasing profitability through the restructuring of underperforming operations and investment in performing operations,” said the group.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation