Re Ann- Non-renounceable rights issue...

I attach an interesting comment, which needs  further confirmation, as it is initially an FM type verbal, I think, and I always
remember some advice from my father along the lines: "Believe nothing you hear (unchecked),  half of what you read in the papers,  
and everything you see", and it's served me well, thus far.
Note The Guardian is quoted as the original source by **zfm, but so far I must say I have not found the article GFM mentions.

Thursday, 03 Mar 2016

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BCL SECURES A FINANCIAL BAILOUT FROM BARCLAYS BANK


THURSDAY, 3 MARCH, 2016 - 16:15

The cash-strapped BCL mine in Selebi Phikwe has reportedly secured a financial bailout from Barclays bank.
The Guardian newspaper says the loan facility, worth 1 billion Pula, is subject to guarantee by the government. The mining giant is struggling to meet its financial obligations.
Apparently the current crisis was triggered by failing to timely act on a board resolution ,to source money from finance institutions, to carry out the smelter shutdown last year. This forced BCL dig into funds meant for day to day operations, and drove the company into bankruptcy.
Managing Director, Dan Mahupela, has told Selebi Phikwe councillors that there will be no holy cows as the company embarks on cost cutting measures to prevent its total collapse.
Mahupela also indicated that the company may ultimately retrench as it seeks to reduce personnel in its non-production departments and streamline its Phikwe and Francistown operations.
Business
Botswana

Have a nice day all.