Following a due diligence process and a binding share sale and subscription agreement, the Black Management Forum Investment (BMFI) board has approved the acquisition of 57-million shares in Pembury Lifestyle Group (PLG) for R55-million. BMFI will acquire 37-million existing shares from property vendors of AltX-listed PLG at R1 apiece, totalling R37-million, followed by the subscription of 20-million new shares at 90c apiece for R18-million.
Source: www.engineeringnews.co.za
BMFI board approves 15% shareholding acquisition in Pembury
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