AST received applications representing 63.07% of the rights shares offered in terms of its recent rights offer.
The group had offered about 986.1 million shares at 9c each in an exercise aimed at raising R88.75 million. The proceeds of the rights offer, after expenses, are to be used to reduce debt.
Applications were received for 621.94 million shares, with 50.56 million allocated in respect of excess applications.
The remaining shares, about 364.2 million, have been taken up by the underwriters - Kumba Resources, the Iscor Pension Fund, Standard Bank and Cadtech.
As a result, AST`s major shareholders are Kumba (26.49%), Iscor Pension Fund (16.34%) and Cadtech (5.53%).
AST says its shares will be consolidated on a one-for-10 basis from 3 November.
The group announced recently that arivia.kom had proposed to make an offer to AST shareholders to acquire their shares.
The AST board resolved to allow arivia.kom to conduct a due diligence investigation and the group is trading under a cautionary notice as a result.
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