Zimbabwe: African Sun Places Caribbea Bay Resort On the Market

LISTED hospitality group, African Solar Restricted (ASL) has positioned one other asset, the Caribbea Bay Resort, in the marketplace.

This was revealed in a Cautionary Assertion issued by ASL informing shareholders of the approaching transaction.

“Shareholders and the investing public are suggested that, in line with the technique of unlocking worth, negotiations for the disposal of a number of hospitality property are nonetheless underway. Pursuant to the above, the Firm has positioned the Monomotapa Lodge in addition to the Caribbea Bay Resort in the marketplace on the market,” reads the assertion partially.

The negotiations if profitable, will represent a “Class 1” transaction; accordingly, the corporate can be searching for the approval of its shareholders at an Extraordinary Common Assembly (“EGM”) to be convened on the applicable time.

Mentioned ASL, “Shareholders and the investing public are due to this fact suggested to proceed exercising warning when coping with the Firm’s securities till suggested of the conclusion of the mentioned ongoing processes. By order of the Board.”

The transfer follows the current sale of the Nice Zimbabwe Lodge in Masvingo, which was bought together with its related enterprise operations for US$4.2 million as a part of a capital-raising initiative.

African Solar’s present property portfolio contains Vacation Inn Mutare, Troutbeck Resort, Elephant Hills Resort and Convention Centre and Hwange Safari Lodge.

The group additionally leases three strategic properties: Vacation Inn Harare, Vacation Inn Bulawayo and The Victoria Falls Lodge.

The strikes are in keeping with the group’s long-term worth creation and asset optimisation methods in response to the business’s dynamism.