February 22, 2017 / 8:33 AM / 5 months ago

BRIEF-Vunani acuqires further 30 pct shareholding in Fairheads

1 Min Read

Feb 22 (Reuters) - Vunani Ltd:

* Acquisition by Vunani of a further 30 pct shareholding in Fairheads through its holding company Mandlalux

* Vunani currently has an effective interest of 62.5 pct in Mandlalux

* Acquisition of 30 pct shareholding in Mandlalux will enable vunani to control an effective 92.5 pct of Mandlalux

* Portion of purchase consideration shall be funded by issue of 10,464,647 Vunani shares at a price of 165 cents per shares

* Cash consideration of R1,000,000 shall be financed through Vunani's cash resources

* Effective date of transaction shall be Jan. 1, 2017 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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