A R300-million equity and debt funding commitment letter has been signed between JSE-listed WG Wearne and Milost Global.
Subject to certain terms and conditions, Milost will invest R50-million through the subscription of ordinary shares in Wearne and lend and advance it R250-million in convertible notes.
The funding is subject to the execution of an equity subscription agreement by both parties.
A further announcement will be made in due course.