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BRIEF-Labat Africa, RTG Vendors conclude amended deal terms
October 15, 2015 / 8:19 AM / 2 years ago

BRIEF-Labat Africa, RTG Vendors conclude amended deal terms

Oct 15 (Reuters) - Labat Africa Ltd :

* Labat and RTG Vendors have now concluded an amended agreement incorporating improved terms for acquisition

* RTG Vendors will subscribe for 15 pct of acquisition price, amounting to R84 million, being 56,000,000 Labat shares at an issue price of R1.50 cents

* Also intends to issue a further 30 million shares to raise additional cash for expansion capital

* Labat will acquire 100 pct of RTG for a subscription consideration of R560 million

* Vendor has agreed to finance portion of subscription consideration by way of vendor loan of R275m on deferred payment terms

* Balance of subscription consideration of R201 million will be paid through issuing 134,000,000 new shares for cash in Labat at R1.50 cents via private placement Source text for Eikon: Further company coverage: (Bengaluru Newsroom + 91 80 6749 1136)

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