RDC sets sights on 51% takeover of PrimeTime
Friday, June 28, 2024 | 360 Views |
![Landmark: Pilane Crossing is one of PrimeTime’s recognisable assets PIC: PRIMETIME.CO.BW](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/mmegi/uploads/images/2024/07/02/113031.jpg&w=800&q=72&f=jpg)
Landmark: Pilane Crossing is one of PrimeTime’s recognisable assets PIC: PRIMETIME.CO.BW
In a public notice last Friday that directors stressed was not an offer or an undertaking to make an offer, RDC Properties’ directors said the group was potentially looking at offering PrimeTime investors 0.6875 RDC units for every one PrimeTime unit they hand over.
RDC is seeking 50 + 1 percent of PrimeTime’s units and will issue at least 91 million new RDC units to cover this, giving a face value for the deal of P218.4 million. The ratio of 0.6875 RDC units for every one PrimeTime unit, is based on the price of the Botswana Stock Exchange (BSE) price of P2.40 for RDC’s units and P1.65 for PrimeTime units as at close of business on June 20.
These roads, which are vital conduits for trade and tourism, have long been in dire need of repair. However, while this development is undoubtedly a positive step, it also raises questions about broader issues of infrastructural management and road safety that deserve closer scrutiny.The A3 and A33 roads are not just any roads, they are critical arteries that connect Botswana to its neighbours and facilitate the movement of goods and people...