RDC DEFENDS TAKEOVER BID, CITING PRIMETIME GROWTH CONSTRAINTS

Article By: Gilbert Manenye

The Botswana Stock Exchange listed, RDC Properties has justified its proposed takeover of Prime-Time Property Holdings citing challenges it alleges Prime- Time faces.

According to RDC, Prime-Time struggles with a small property portfolio, limited insti-tutional backing, and large borrowings against the company's assets making it difficult for Prime-Time to raise capital or seize new opportunities.

In a circular sent to shareholders, RDC praised its own performance, pointing to its expansion across Botswana, Croatia and South Africa. The company says this strategy helped it generate over 582 million pula in revenue in 2024, out-performing all other property companies listed on the Botswana Stock Exchange, including PrimeTime.

If the deal goes ahead, RDC could acquire between 60 and 100 percent of PrimeTime, with more than 181 million new RDC shares to be issued to PrimeTime shareholders as part of the transaction.