LLR presses on in Africa despite shareholder row :: Mmegi Online

Listed property group, Letlole La Rona (LLR) is confident that its ‘Go-To-Africa Strategy’ will not be affected after pan-African real estate giant, Grit Services, cut down its shareholding in the local entity due to a shareholder dispute.

Grit Services which is LLR’s Africa expansion strategy partner, recently offloaded millions of its shares in the local group, cutting its stake from 25%to 18.31%. The pan-African real estate firm at some point held 30% equity in LLR, second only to founding shareholder, Botswana Development Corporation (BDC), with 40%.

Shareholder tensions boiled over in December when Grit tried unsuccessfully to adjourn the meeting, citing “an urgent, significant and material matter”. BusinessWeek has since established that shareholders were concerned about Grit’s control of the Africa strategy and its dominance of the board.

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LLR presses on in Africa despite shareholder row

Listed property group, Letlole La Rona (LLR) is confident that its ‘Go-To-Africa Strategy’ will not be affected after pan-African real estate giant, Grit Services, cut down its shareholding in the local entity due to a shareholder dispute.

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