Johannesburg - Medi-clinic International [JSE:MDC] on Friday
announced the terms of its proposed renounceable rights offer to raise R5bn.
The proceeds from the rights offer will be used to partly
refinance the group’s existing debt facilities in Switzerland and provide it
with flexibility to pursue strategic growth and development opportunities.
The rights offer will consist of 174‚641‚984 new Mediclinic
shares at an issue price of R28.63 per share in the ratio of 26.77263 new
shares for every 100 held on the record date - Friday 14 September 2012.
The offer price represents a 25% discount to the 30-day
volume weighted average price of R38.17 per Mediclinic share as at 31 July
2012.
Any rights offer shares not taken up in terms of the offer
will be available for allocation to Mediclinic shareholders who wish to apply
for a greater number of rights offer shares than those offered to them in terms
of the rights offer‚ the company said.
The rights offer is fully underwritten by Remgro‚ through
its wholly-owned subsidiary Industrial Partnership Investments Proprietary.
Mediclinic shareholders are no longer required to exercise caution when dealing in their shares‚ the company said.
* Follow Fin24 on Facebook, Twitter and Google+.