1time finalises agreement to sell stake to Mtha Aviation; Lonrho shares down -7.1%

1time (-3.5%) finalised a USD9.2 million (ZAR65 million) deal to sell a 25% stake in the company to Mtha Aviation and SKMT Sunrise Investment Group. 1time will use the new capital to fund the group’s expansion and develop its facilities at Safair Technical, its maintenance division. The transaction will see 1time issuing a further 70 million shares at a price of approximately 93c a share.

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