BRIEF-Conduit Capital Announces Disposal Of Assets And Withdrawal Of Cautionary Announcement

  • Reuters
  • Stock Market News
BRIEF-Conduit Capital Announces Disposal Of Assets And Withdrawal Of Cautionary Announcement
Credit: © Reuters.

Dec 9 (Reuters) - Conduit Capital Ltd CNDJ.J :

* DISPOSAL OF ASSETS AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

* CONSIDERATION PAYABLE BY LSH TO CONDUIT CAPITAL IN RESPECT OF DISPOSAL ASSETS IS AN AMOUNT OF AROUND R2 BILLION

* ENTERED INTO A BINDING TERM SHEET WITH TRUSTCO AND ITS SUBSIDIARY, LEGAL SHIELD HOLDINGS LIMITED

* TO SELL ALL ISSUED SHARES OF CONSTANTIA RISK AND INSURANCE HOLDINGS, CONDUIT VENTURES PROPRIETARY IN EXCHANGE FOR SHARES IN LSH

* NET PROCEEDS OF DISPOSAL, BEING LSH ORDINARY SHARES, WILL BE HELD BY CONDUIT CAPITAL FOR INVESTMENT PURPOSES

* DEAL CONSIDERATION TO BE SETTLED BY LSH ISSUING 231 857 ORDINARY SHARES TO CO EACH OF WHICH IS VALUED AT NAD8626.02

* DEAL CONSIDERATION SHARES TO CONSTITUTE ABOUT 16.1% OF ISSUED ORDINARY SHARES OF LSH ON ISSUANCE ON A FULLY DILUTED BASIS

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search