All the conditions for Metrofile`s recapitalisation have been met, it says.
In a note to shareholders on Friday, the company said the acquisition of minorities could go ahead if the rights offer is completed by the end of November.
Metrofile is to be recapitalised, through a rights offer, to the sum of R142 million through the issue of 188.9 million shares.
In addition, the company will buy-back and cancel the existing seven million treasury shares held by MGX Management Services and place 10 million Metrofile shares under the control of the directors to issue for cash if required to settle other group and contingent liabilities.
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