JOHANNESBURG, April 19 (Reuters) - Eqstra Holdings Ltd:
* Says board of directors has resolved to raise R650 million by way of a
renounceable rights offer
* Says rationale for rights offer to adequately capitalise Eqstra via bottom of
the business cycle
* Says after 30 June 2010, eqstra's debt covenants will increase
* Says minimum capital adequacy ratio will increase from 18% to 20%
* Says rights offer proceeds will be used to repay short term debt, although
debt facilities will remain in place
* Says R150 million to R200 million will be used to capitalise the benga coal
project over the next 6 to 12 months
((Johannesburg newsroom, +27 11 775 3155))
(For more information, click on) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Says board of directors has resolved to raise R650 million by way of a
renounceable rights offer
* Says rationale for rights offer to adequately capitalise Eqstra via bottom of
the business cycle
* Says after 30 June 2010, eqstra's debt covenants will increase
* Says minimum capital adequacy ratio will increase from 18% to 20%
* Says rights offer proceeds will be used to repay short term debt, although
debt facilities will remain in place
* Says R150 million to R200 million will be used to capitalise the benga coal
project over the next 6 to 12 months
((Johannesburg newsroom, +27 11 775 3155))
(For more information, click on) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
