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EOH hints of possible rights issue as turnaround continues

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The tech group says it’s been able to hold on to margins so far in its 2022 year, as Omicron and weak economic conditions take their toll

Scandal-plagued technology group EOH, which returned to profit in its 2021 year, has said success in closing out loss-making contracts helped it hold on to its margins thus far in 2022, putting it in a position to consider its next steps in tackling its R2bn debt pile.

“Given the continued improvement of EOH’s trading performance, the EOH board and management team believe this is the appropriate time to engage with shareholders, lenders and the market more broadly to determine the optimal solution for the company,” the group said on Friday. In September 2018, it brought in former MTN executive Stephen van Coller to turn the group around, and has recently been pursuing a strategy of selling off

 

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