BRIEF-Labat Africa Agreement To Issue Shares For Cash To Verityhurst Ltd

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BRIEF-Labat Africa Agreement To Issue Shares For Cash To Verityhurst Ltd
Credit: © Reuters.

June 26 (Reuters) - Labat Africa Ltd LABJ.J :

* JSE: LAB - AGREEMENT TO ISSUE SHARES FOR CASH TO VERITYHURST (PTY) LTD AND EXTENSION OF BOOKBUILD CLOSING DATE

* LABAT AFRICA - ENTERED INTO SHARE SUBSCRIPTION AGREEMENT WITH VERITYHURST IN TERMS OF WHICH VERITYHURST AGREED TO SUBSCRIBE FOR UP TO 70 MILLION SHARES

* LABAT AFRICA LTD - WILL USE PROCEEDS OF SUBSCRIPTION SHARES FOR CAPITAL EXPENDITURE

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