Sugar producer Tongaat Hulett, which is still struggling to put a devastating accounting scandal behind it, has appealed for shareholders to consider its longer-term prospects as it asks them to back a rights issue of more than five times its market value.

The former blue-chip stock, now valued at R784m on the JSE, is asking for shareholders to inject R4bn as it battles a R6.9bn total debt pile, but they seemingly have little choice given the punitive interest rates the group faces should a rights issue not proceed by mid-April 2022...

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