Rare hostile takeover deepens at BSE

Speaking out: Masie  PIC MORERI SEJAKGOMO
Speaking out: Masie PIC MORERI SEJAKGOMO

;The rare hostile takeover developing on the Botswana Stock Exchange (BSE) took a turn this week, with the acquisition target, PrimeTime Properties, accusing its suitor, RDC Properties, of “creating uncertainty to the detriment of shareholders”.

RDC, which has the largest investment property portfolio on the Botswana Stock Exchange at P6 billion, has spent several months engaging major unitholders on the possibility of making a partial offer directly to PrimeTime’s own unitholders.

As the two property firms are listed, they are obliged to make public announcements on the possible offer, a situation that has led to a series of cautionary statements by both sides to investors since February.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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