December 20, 2016 / 9:06 AM / a year ago

BRIEF-Ecsponent announces sale of some investments, ops

Dec 20 (Reuters) - Ecsponent Ltd

* Has undertaken a process of rationalising group’s operations and investments

* Announce a series of financial transactions designed to streamline operations and re-align group for increased strategic growth

* Disposal of co’s 51 pct interest in clade investment management proprietary ltd to Ecsponent Capital (RF) Ltd for 15.5 million rand

* Issue of 1.5 million new shares by Ecsponent Financial Services Ltd, or 75 pct of share capital in EFS Zambia, to Getbucks Ltd for ZMW 7.5 million

* Disposal of 50 pct interest in Sure Choice Proprietary Ltd to Getbucks Ltd for P10 million

* Board of Ecsponent has undertaken a process of rationalising group’s operations and investments

* Transactions ensure focus on SME and enterprise finance and private equity, with co disposing of all other assets not aligned to these activities

* Disposal of 70 pct interest in, loan accounts against Ecsponent Holdings Proprietary Ltd, to Ecsponent Projects Proprietary Ltd for P34 million

* Disposal of a part of Ecsponent Development Fund Proprietary Ltd to Ecsponent Investment Holdings Proprietary Ltd for 120.15 million rand Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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