In a filing on the exchange, the property group assured its shareholders that updates will be provided as developments unfold. The investigation, which began in October last year, led to the national bourse ordering RDC to suspend publishing, posting or circulating offer circular for its proposed acquisition of PrimeTime. In a new update, PrimeTime reaffirmed its full cooperation with the BSE regarding the investigation. “Unitholders are advised to exercise caution when trading in their PrimeTime units until an official announcement is made regarding the proposed offer from RDC Properties,” the company said.
Since early 2024, RDC had pursued a hostile takeover of PrimeTime, a rare occurrence on the BSE. By then RDC properties were seeking 50+1 percent of PrimeTime 's units and promised to issue atleast 91 million new RDC units to cover this, giving a face value for the deal of P218.4 million. The ratio of 0.6875 RDC units for every one PrimeTime unit, is based on the price of the Botswana BSE price of P2.40 for RDC's units and P1.65 for PrimeTime unit as close of business on June 20 last year.The process has seen multiple developments including a temporary freeze due to regulatory concerns. The local bourse’s March 2025 decision is anticipated will provide clarity on the future direction of the unsolicited bid by RDC.
