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Litha BEE deal talks continue

Dec 18 2012 10:34
I-Net Bridge

Johannesburg - Litha Healthcare Group [JSE:LHG] has entered into and remains engaged in negotiations with a selected black economic empowerment (BEE) party with a view to secure a subscription for ordinary shares in the company by the BEE party on terms and conditions to be agreed upon. 

The company said on Tuesday that it has granted exclusivity to the selected BEE party‚ which expires on 31 March 2013. 

Litha said on Tuesday that the parties have done extensive work to date‚ as is customary for a transaction of this nature‚ with a view to progress the proposed transaction. 

However‚ the transaction remains subject to the parties reaching agreement on various commercial and other aspects. 

The proposed transaction‚ if concluded and implemented‚ may have a material effect on the price of the company's securities‚ it said. Accordingly‚ shareholders were advised to continue exercising caution when dealing in their shares.

 

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