Grand Parade Investments Limited (GPI) announced today that an associate of one of its directors, Gregory Mark Bortz, has acquired 198,900 ordinary shares in the company. The transaction, disclosed in compliance with the JSE Limited Listings Requirements, signifies a notable development within GPI’s leadership and ownership structure.
Gregory Mark Bortz, an executive of GPI, participated in the acquisition through his associate, GMB Liquidity Corporation Proprietary Limited. Bortz holds the position of director and indirect shareholder in the associate company. The transaction took place on 27 June 2023 and involved an on-market purchase of ordinary shares at a price of R2.85 per security. The total value of the securities transacted amounted to R566,865.00.
It is important to highlight that GMB Liquidity Corporation Proprietary Limited holds an indirect, beneficial interest in the transaction. Clearance for this acquisition was obtained in accordance with paragraph 3.66 of the JSE Limited Listings Requirements, ensuring compliance with regulatory guidelines.
Grand Parade Investments Limited, a prominent South African company listed on the JSE, operates as an investment holding company with investments in the gaming and leisure sectors. The acquisition of GPI shares by an associate of its executive director raises questions about the motives behind this transaction, which may indicate confidence in the company’s future prospects or a strengthening of ties between the director and the associate.
While specific details regarding the purpose of the share acquisition were not disclosed, such developments can be of significant interest to shareholders and the investing public as they provide insights into the strategic direction of the company and the confidence of its key stakeholders.