Cresta offers P1.50 in share buyback

The hotel group, Botswana's largest, is already priming shareholders on its plans to repurchase up to five percent of its P18.5 million stated share capital from investors holding between 100 and 2 000 shares.

Yesterday, Cresta officials unveiled the P1.50 per share offer, indicating that circulars on the transaction were already being distributed to shareholders. Following the circulation of the buyback's details, shareholders will pass or reject the proposal at an extraordinary general meeting planned for October 5.