A rare hostile takeover grips the market
Friday, October 11, 2024 | 2720 Views |

Landmark: PrimeTime has several well-known assets around the country PIC: PRIMETIME.CO.BW
A committee of the Botswana Stock Exchange (BSE) has launched an investigation into RDC Properties’ attempted hostile takeover of PrimeTime, with a report due to be released in 30 days.
In the meantime, the offer circular that RDC was scheduled to publish to PrimeTime’s shareholders, has been put on hold, effectively freezing the proposed offer, at least until the BSE makes a decision.
It seems some government accounting officers, sworn to tell "the truth, the whole truth, and nothing else but the truth" before Almighty God, may have deliberately lied during the committee’s vital work. If proven, this is not merely unprofessional; it is perjury, a serious criminal offence and it strikes at the very heart of responsible government.The PAC’s role is fundamental. After each financial year, it painstakingly examines how public...