New Property Company to Be Listed on the Botswana Stock Exchange - History and Profile of Letlole la Rona

Letlole La Rona (LLR) Limited is a new Botswana based public property company engaged in property investment, development and management. It was incorporated as a public company according to the laws of Botswana on the 8th of July 2010 under Company Number CO 2010/6316. LLR owns a number of Commercial and Industrial properties which were transferred to it by Botswana Development Corporation Limited   through its divestment policy recently. The properties include hotels, warehouses and factory shells among others. These properties are financially viable in terms of tenants and stable rental stream. This mix of  properties also  represent a diversified yet balanced portfolio of long term and short term rentals in the tourism and industrial sectors of the economy. All of them currently yield returns that are competitive and market related and it is projected that through LLR, they will continue to do the same.

LLR will be listed (its linked units) on the Botswana   Stock Exchange (BSE) in the second quarter of this year, to enable a broad spectrum of Batswana to buy shares and meaningfully participate in the ownership of the property business portfolio in the country. Its   investment policy is to maximize returns and create wealth for its share holders. Through its listing on the BSE, the investment will be liquid, and will be able to be bought and sold in a transparent market in the event that the investment is to be exited for whatever reason.

The control of the company is vested in the Board of Directors who are from time to time appointed by share-holders. As a public company, LLR adheres to best international practices and a sound code of corporate governance. Its directors are independent and empowered to decisively act on behalf of the shareholders.

The decision to establish LLR (which is a company independent of BDC) by Botswana Development Corporation follows BDC’s sound divestment policy which clearly seeks to involve to the extent possible the participation of citizens in the ownership structure of the divested entities such as the ones currently owned by LLR, and significantly contribute to the development of the capital markets in Botswana. The Asset Managers of the company are Liberty Properties.