BRIEF-Ecsponent Says Board Advised That It Is Assessing Various Possibilities To Restructure Balance Sheet
May 7 (Reuters) - Ecsponent Ltd ECSJ.J :
* JSE: ECS - ECSP10 - RENEWAL OF THE CAUTIONARY ANNOUNCEMENT
* ECSPONENT LTD - BOARD HAS ADVISED THAT IT IS ASSESSING VARIOUS POSSIBILITIES TO RESTRUCTURE GROUP'S BALANCE SHEET
* ECSPONENT - BOARD ADVISED THAT IT IS ASSESSING VARIOUS POSSIBILITIES TO OBTAIN ADDITIONAL EQUITY CAPITAL, AND ENSURE A CONTINUED SOLVENT POSITION
* ECSPONENT - PROPOSED SPECIFIC ISSUE OF SHARES FOR CASH ON ISSUE OF 8.81 BILLION ORDINARY SHARES TO MHMK GROUP AT SUBSCRIPTION PRICE OF ZAR0.0245 PER SHARE
* ECSPONENT-SUBSCRIPTION CONSIDERATION TO NOT BE PAID IN CASH, TO BE OFFSET AGAINST CLAIM OWING TO MHMK, REDUCING LIABILITIES OWING TO MHMK BY R215.8M
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