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Blue, Mayibuye in recapitalisation talks

Jan 21 2013 11:42
I-Net Bridge

Johannesburg - Blue Financial Services [JSE:BFS] advised Monday that it is in negotiations with Mayibuye Group Proprietary‚ the 51% controlling shareholder of Blue‚ which if successfully concluded may have a material effect on the price of the company's securities.

“The negotiations pertain to the proposed further recapitalisation of the company‚ which is likely to involve the injection by Mayibuye of certain of its assets and new debt capital into Blue. The negotiations are at a relatively early stage and are expected to only be concluded in the first quarter of 2013‚” it said.

Shareholders were advised to exercise caution when dealing in their shares until a further announcement is made.  

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