Letlole la Rona, whose portfolio features industrial, retail, office and residential properties around Botswana valued at P1.21 billion, held an AGM in December. Grit however tried unsuccessfully to adjourn the meeting, citing “an urgent, significant and material matter” requiring the board’s attention before the AGM.
The failed bid was the latest sign of shareholder tensions in Letlole, in which Grit, a Mauritius domiciled entity with roots in London, at some point held 30% equity, second only to founding shareholder, the Botswana Development Corporation (BDC) with 40%.
