JSE-listed Global Technology Limited today released the details of its rights issue, which was announced with the group`s annual results last week, by Chairman, Ray Leonard.
Global Technology intends to raise R19.7 million, by way of a rights offer of new Global Technology shares to all existing shareholders. The shares will be offered at 80c each. The group intends to convert an approximate R16.1 million loan to capital through the rights issue, and ultimately, reduce its debt equity ratio.
The last day for shareholders to qualify for the rights offer is Friday, 12 April. The rights offer opens on Monday, 22 April and closes on Friday, 17 May. The results of the rights offer will be published on or around Monday, 20 May.
Global Technology is the leading supplier of software solutions to the banking, insurance and financial communities in Africa and Australia.
For further information on Global Technology, visit www.glotec.com.
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