March 12, 2018 / 6:41 AM / 2 months ago

BRIEF-Eoh Holdings Announces Strategic Partnership With Lebashe, Including 3.25 Bln Rand Funding Facility​

March 12 (Reuters) - Eoh Holdings Ltd:

* JSE: EOH - SHAREHOLDER UPDATE: EOH STRATEGY, STRATEGIC PARTNERSHIP WITH LEBASHE, INCLUDING A R3.25 BN GROWTH FUNDING FACILITY​

* DECIDED THAT FOR LONG-TERM BENEFIT OF ALL STAKEHOLDERS IT SHALL FORM TWO INDEPENDENT BUSINESSES WITHIN EOH

* EOH - ‍LONG-TERM STRATEGIC PARNERSHIP WITH LEBASHE, R3.25 BILLION FUNDING FACILITY AND BLACK ECONOMIC EMPOWERMENT TRANSACTION​

* UNDER AGREEMENT, ‍LEBASHE WILL SUBSCRIBE FOR NEW ORDINARY EOH SHARES (“EOH SHARES”) FOR R250 MILLION​

* ‍EOH WILL HAVE ACCESS TO FUNDING FACILITY FOR GROWTH IN AN AMOUNT OF UP TO ADDITIONAL R3 BILLION AT A MINIMUM OF 20.3% FOR FIVE YEARS​

* ‍EOH WILL ESTABLISH A R5 BILLION DOMESTIC MEDIUM TERM NOTE PROGRAMME​

* EOH ‍WILL CREATE NEW UNLISTED A SHARES FOR PURPOSES OF TRANSACTION FOR ISSUE TO LEBASH​

* EOH HOLDINGS - ‍PURSUANT TO LEBASHE FACILITY, LEBASHE SHALL UNDERTAKE TO SUBSCRIBE, FOR EOH NOTES UP TO AN AGGREGATE NOMINAL VALUE OF R3 BILLION​ Source text for Eikon: Further company coverage:

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