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Poynting Holdings Ltd announces general issue of shares for cash


Friday, 27 Dec 2013 02:30am EST 

Poynting Holdings Ltd:Says it has issued a total of 16 mln ordinary shares for cash to PSG Private Equity Proprietary Limited, a wholly-owned subsidiary of PSG Group Limited (cash issue), representing 16.9 pct of the issued share capital of Poynting.Says in total 16 mln ordinary shares were issued at a price of 1.58 Rand per share for a total consideration of 25.28 mln Rand.Says a total cash amount of 25.28 mln Rand has been raised in terms of the cash issue and the new Poynting shares issued will rank pari passu with the existing shares in issue.Says the majority of the proceeds will be used to fund its organic and acquisitive growth. 

Company Quote

239.0
-6.0 -2.45%
19 Dec 2014