Sun International this week reported that Rights Offer, which closed Friday, June 1, was significantly oversubscribed, bringing its total application for Rights Offer shares to 187%.
The total value of Rights Offer shares allocated is approximately R1.6 billion.
Rights Offer price of R57.82 per Rights Offer Share was at VWAP on the 10th of the announcement, reflecting the strong support the company has received from existing shareholders and underwriter Value Capital Partners.
The excess applied will be allocated equally in consideration of the number of Sun International shares and rights held by each shareholder and the number of excess shares applied.
Pursuant to the conclusion of Rights Offer, the Company's total number of outstanding shares will increase to 136,730,964 shares of non-par value Sun International common stock, including 6,719,759 shares held by Dinokana, of which Sun International Limited effectively holds 4,947,087 shares through 73.6% of Dinokana's stake.
Sun International CEO Anthony Leaming said the Rights Offer proceeds will be used to reduce debt to strengthen the group's balance sheet. This will give management the time and space they need to focus on their business and strategy execution."
에볼루션 바카라사이트