Lighthouse Properties p.l.c. (JSE: LTE) announced today that an associate of one of its directors, Delsa Investments (Pty) Ltd (“Delsa”), has made a substantial acquisition of the company’s securities. The disclosure of this transaction aligns with the requirements set forth in paragraphs 3.63 to 3.74 of the JSE Listings Requirements.
The director associated with this transaction is Desmond de Beer, a beneficiary of the Grove Trust, which holds shares in Delsa. On 23 June 2023, Delsa Investments purchased 2,000,000 ordinary shares of Lighthouse Properties on the market. The highest traded price for these shares on that day was ZAR 6.51, while the lowest traded price stood at ZAR 6.28. The weighted average price per security was calculated to be ZAR 6.4499, resulting in a total transaction value of ZAR 12,899,800.00.
This on-market purchase of ordinary shares by Delsa Investments demonstrates a strong vote of confidence in Lighthouse Properties. It indicates optimism regarding the company’s future prospects and the potential for growth in the real estate market. It is worth noting that Desmond de Beer’s interest in these shares is indirect but beneficial, underscoring the associate’s belief in the value and profitability of Lighthouse Properties.
Lighthouse Properties p.l.c. is a renowned real estate company known for its expertise in developing and managing both commercial and residential properties. The company’s commitment to providing high-quality real estate solutions has contributed to its reputation as a trusted industry leader. With a diverse portfolio of properties, Lighthouse Properties aims to deliver exceptional value to its shareholders.