Better and better for Grand Parade Investments in 2008
GPI Acquires Interest in KZN Operation
This year has been a productive one for empowerment investment company Grand Parade Investments (GPI) and its shareholders – but 2008 promises to be even better, says GPI chairperson Hassen Adams.
Top on the list of priorities for the New Year is GPI’s listing on the Johannesburg Stock Exchange (JSE). GPI has already been given conditional approval for listing by the JSE, and is in the process of fulfilling the remaining conditions laid down by the stock exchange. GPI recently made its second of three required submissions to the JSE, and is on track to list by the end of January 2008.
“Although we had hoped to have concluded the complex listing process by the end of this year, I am very pleased with the progress made thus far. I look forward to the formal listing early in the New Year – and to the substantial increase in share value that it will bring to our loyal community of shareholders,” says Adams.
Shareholders have also been given the opportunity to apply for units in the GPI BBBEE (Broad Based Black Economic Empowerment) Trust, and have until 23 January 2008 to take up the offer. All shareholders have been notified of the offer by way of a circular.
In addition, GPI has concluded a transaction with a KwaZulu Natal-based women’s group, which sees the company acquiring interests in the KZN gambling industry and further cementing its plans to become a national gaming powerhouse. Further information about the deal will be made public in the near future.
“These elements will go a long way to making for a very bullish outlook for GPI in 2008. We will continue to add value for our shareholders, and expand GPI’s portfolio in ways that will consolidate and grow the company into a major player in the South African gambling industry – not just a beneficiary,” says Adams.
GPI has also developed a fresh new website, which is currently being tested. It will offer shareholders and other interested parties with more easily accessed and easier-to-follow information, on a platform that is simpler to navigate and more visually pleasing. It is expected that the new website will be fully operational within the next few days.
Adams said he wished to thank all of GPI’s shareholders for their support and patience during the past year, and he extended warmest season’s greetings to them.
“I would like to wish all of our shareholders and the families all of the very best over the festive season. May they enjoy as much precious time with their loved ones as possible, not eat or drink too much, and be safe at all times – a great year ahead beckons them,” he said.