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BRIEF-Taste Holdings says as part of ‍debt reduction co will raise 398 mln rand
November 16, 2017 / 8:53 AM / a month ago

BRIEF-Taste Holdings says as part of ‍debt reduction co will raise 398 mln rand

Nov 16 (Reuters) - TASTE HOLDINGS LTD

* AS PART OF ‍DEBT REDUCTION COMPANY WILL RAISE R398 MILLION BY WAY OF A RIGHTS OFFER AT 90 CENTS PER SHARE​

* ‍PROCEEDS OF RIGHTS OFFER WILL BE USED TO SETTLE TERM DEBTS, INCLUDING R225 MILLION OF NOTES​

* ‍BALANCE OF PROCEEDS FROM RIGHTS OFFER WILL BE USED TO FUND CONTINUED ROLL OUT OF DOMINO‘S AND STARBUCKS STORES​

* DETERIORATING MACRO-ECONOMIC CONDITIONS MEANT TIMING OF DISPOSAL OF LUXURY GOODS DIVISION WAS NOT IDEAL AND GROUP STOPPED SALE PROCESS​ Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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