Grit lost P47m in Letlole exit

Grit sold its 70.3 million shares, which represented 25.1% equity in Letlole, in four open market transactions on the Botswana Stock Exchange (BSE) between January and June. Each of the four transactions squeezed LLR’s share price down, from P3.48 at the time of the first sale, to P2.50 at the last.

In the year to October, Letlole la Rona was the worst performer on the BSE’s Domestic Companies Index, having shed 25% in its share price over the period, compared to an increase of 21.6%% over the same period last year.