/ 28 February 2001

OTK SELLS R921M DEBTORS BOOK

SOUTH Africa’s diversified agricultural company OTK Holdings Ltd has sold its R921m interest-bearing debtors book to two banks. OTK sold its debtor book to Wesbank and the Land Bank for R203m and R718m respectively in a transaction effective from January 31 this year. The deals would generate substantial cash for the group and shareholders would be paid 245 cents a share. OTK shares closed down 10 cents on Monday at 555 cents. – Reuters