Barita Investments Limited (BIL) – Rights Issue

Barita Investments Limited (BIL) has advised that their Board of Directors met on December 13, 2018, and has approved a Non-Renounceable Rights Issue of 258,064,516 ordinary shares to BIL’s Ordinary Stockholders.

The share ratio allocation for the issue will be Ten (10) additional shares for every seventeen (17) shares owned by existing BIL ordinary stockholder on record as at December 31 2018. The transaction opens on January 8, 2019 and has an offer price of $15.50 per share which is less than half the current trading price.

The offer closes on January 22, 2019 for acceptance by existing shareholders and has a final close date of January 25, 2019 for acceptance by applicants excess shares (not taken up by allotees)

Source: JSE