Thursday, February 29, 2024

Letlole La Rona maintains high occupancy level

Letlole La Rona (LLR) Limited said it continues in its quest to develop sound investments for the investor.

Botswana Stock Exchange (BSE) quoted company’s expansion of the industrial property at Plot 32084 is nearing completion with 80 percent of the project being completed. The project is anticipated to be completed in April 2014.

“The company continues to maintain a 100 percent portfolio occupancy level,” read s statement from the company.

The company’s unaudited interim results and distribution announcement for the six months period ended 31 D ecember 2013 indicated that profit after fair value adjustment and before tax for the six months ended 31 December 2013 amounted to P50.17m.

“This is inclusive of a fair value revaluation of P25.62m following Directors internal valuation of the portfolio,” reads the financial statement.

Information contained in LLR interim results also highlighted that the Asset Manager contract terminates on 31 March 2014 and recruitment of an appropriately qualified and experienced individual is under way.

The statement indicated that in the interim and until such individual is appointed, the Board of Directors has engaged Marina Bathuleng-Mookodi as Executive Director to oversee LLR operations.

The Board of Directors of Letlole la Rona (LLR) last year November 2013 appointed the then Botswana Development Corporation (BDC) acting Managing Director Montle Phuthego Board member during the LLR Annual General Meeting (AGM).

Phuthego is said to be a replacement of Sametsi Ditshupo who resigned from the Board of LLR on the 11th December 2012.

The announcement of the appointment at the AGM, LLR Board Chairman Marina Bathuleng-Mookodi said that the board is working around clock to also lock on the replacement of the resigned board member James Kamyuka, who left the boardroom 24th September 2013.

Previously, LLR said that it has been successful in its execution of strategy in the reporting period ended 30 June 2013. The portfolio strategy developed in 2012 focuses on maximising of existing vacant spaces and restructuring the portfolio.


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