secured a $100 million equity facility and is in talks relating to “several” acquisitions.
The company says it will provide further details of the terms of the facility, worth about R703 million, as well as the potential acquisitions after the “newly-constituted” board meets this week. It says shareholders should trade cautiously in the meantime.
IFCA is an investment holding company that has two subsidiaries. IFCA sWare focuses on the group's software solutions and services, and IFCA hWare on the group's computerised business equipment solutions.
On 14 January, IFCA announced that Zacharias Johannes van Niekerk and Mark Palmer would join the board as independent non-executive directors with immediate effect.
Earlier this year, the company said it had issued 20 million shares, to raise R1.38 million, in order to settle outstanding creditors and fund operating expenses. IFCA also said its empowerment partner was selling down its stake, which could result in a change in control.
Share
