Letshego plans to extend share buyback
Friday, March 10, 2017
The share buyback was introduced late last year as a result of a plunging share price, which saw the Botswana Stock Exchange (BSE)-listed company losing over 30% of its value during 2016. This led to the company proposing dipping into its capital and retaining earnings to buy back 10% of its issued shares to boost shareholder value through reduction of the number of listed shares.
Following the buyback, the microfinance firm’s share price managed to recover, reflecting excitement of shareholders on the buyback plan, which resulted in 53 million shares or 2.4% being repurchased at an average price of P2.26 per share.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...