Global Technology is planning to raise R19.7 million by way of a rights offer to existing shareholders.
The group says the shares will be offered at 80c each.
"Global Technology Investment Holdings (GTIH) has a loan amount in Glotec amounting to R16.1 million as at 28 February 2002 which it wishes to effectively capitalise, in part or in whole, and, accordingly, the same rights will be extended to other shareholders," the group says.
"GTIH has irrevocably undertaken to follow its rights, amounting to approximately R11.4 million, and will underwrite the remainder of the rights offer to the extent of the balance of its loan account which approximates to R4.7 million."
The move would ultimately allow Glotec to reduce its debt-equity ratio.
The offer opens at 9am on 22 April.
The Glotec share price was unchanged at 82c on the JSE by late this morning.
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