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Sentula obtains a further R15m in rights offer

1st February 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – JSE-listed Sentula Mining has deepened its partnership with JB Private Equity Investors, securing a further R15.3-million of its capital raising target through a multimillion-dollar rights offer.

Last year, Sentula announced plans to raise R105.58-million through a partially underwritten renounceable rights offer of 586.5-million shares, to be undertaken on a one-for-one basis at 18c apiece.

To date, the group had secured commitments for R64.7-million – 61.3% of the rights offer.

Sentula had initially entered into an underwriting agreement with JB to underwrite some R10.44-million.

This was followed by a second underwriting agreement with the Dalikhaya Rain Zihlangu Family Trust to underwrite up to R10-million.

Edited by Creamer Media Reporter

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