Feb 28 (Reuters) - ELB Group Ltd ELRJ.J :
* JSE: ELR - TERMS ANNOUNCEMENT, DISPOSAL OF ELB AUSTRALIA, CANCELLATION OF EMPLOYEE SHARE SCHEME, WITHDRAWAL OF CAUTIONARY
* ELB GROUP - OPERATIONAL RESTRUCTURING INITIATIVES PROGRESSING AS PER PLAN, EXPECTED TO BE COMPLETED WITHIN CURRENT FINANCIAL YEAR
* ELB - SECURED BRIDGE LOAN OF R100 MILLION TO FINANCE RESTRUCTURING INCLUDING EXIT OF ONEROUS CONTRACTS & HEADCOUNT REDUCTION
* ELB - AGREED TO SELL ITS AUSTRALIAN EQUIPMENT BUSINESS
* ELB- SALE OF AUSTRALIAN EQUIPMENT BUSINESS AT TOTAL PURCHASE CONSIDERATION OF AUD19.25 MILLION
* ELB - PROCEEDS OF DISPOSAL WILL BE UTILISED TO SETTLE BRIDGE LOAN