Letshego Holdings Limited – Notice of intent to merge Tanzania entities via process of legislated acquisition
Gaborone, BOTSWANA – Friday, 27 January 2023: Letshego Holdings Limited (“LHL” | “the Group” | “Letshego”), incorporated in 1998 and headquartered in Gaborone, Botswana, has been publicly listed on the Botswana Stock Exchange (BSE) since 2002. Letshego is an inclusive finance Group with microfinance banking and consumer lending subsidiaries across eleven countries in sub Saharan Africa.
In line with corporate governance standards and compliance with national listings regulations, Letshego Holdings Limited wishes to advise shareholders of the Group’s intention to streamline its Tanzania business operations, thereby maximizing potential commercial and operational efficiencies and sustainable business returns.
Business operations and systems intend to be streamlined by merging Letshego’s two wholly owned Tanzanian subsidiaries via the legislated process of acquisition, whereby Letshego Bank Tanzania Limited will seek to acquire Letshego Tanzania Limited T/A Fadika. All due regulatory notices of intention have been submitted to respective Tanzanian regulators. The Bank of Tanzania has subsequently issued conditional approval, pending final detailed submissions required.
Letshego Holdings Limited is progressing with due regulatory submissions with the intent to secure final approval for the corporate action. In line with listings regulation, shareholders will be updated on any significant progress or developments in due course. Both subsidiaries remain fully operational, maintaining the delivery of impactful and productive financial solutions for all customers, and supporting Tanzania’s long term economic growth potential.
As Letshego Holdings Limited remains in a Closed Period, shareholders, brokers and investors are advised to apply due caution with respect to trades in Letshego Holdings securities.
BY ORDER OF THE BOARD OF DIRECTORS OF LETSHEGO HOLDINGS LIMITED
27 January 2023
|PHILIP ODERA||AOBAKWE AUPA MONYATSI|
|Letshego Group Board Chairman||Letshego Group Chief Executive|
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Letshego Holdings Limited (LETSHE.bw)Share price: 124.00 Thebe (0.00 | 0.00% – 24/03/23)
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