Mmegi

BSE clears RDC’s path for PrimeTime takeover bid

Landmark: Lobatse Junction is one of PrimeTime’s flagship assets
Landmark: Lobatse Junction is one of PrimeTime’s flagship assets

An investigative committee of the Botswana Stock Exchange (BSE) has given RDC Properties the green light to proceed with its long-suspended bid for a stake in property sector rival PrimeTime.

This follows a comprehensive ruling by the BSE regulatory committee, which had been probing the hostile takeover from October last year until this month.

In a six-page ruling issued publicly this week, the BSE’s committee not only cleared RDC Properties of several key allegations but also reset the clock on the takeover timeline.

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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