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HCI WILL HOLD 70% OF SEARDEL AFTER ITS R300m RIGHTS OFFER

HCI will hold 70% of Seardel after its R300m rights offer SEARDEL says it has concluded its R300m rights offer, effectively giving Hosken Consolidated Investments (HCI) control of the apparel and textile maker. HCI will take up 497,6-million of the remaining rights otter shares. Shareholders applied for 115,4- million new Seardel ordinary shares. This will result in HCI holding some 70,6% of the total issued share capital.

Source: Business Day – Inet Bridge