Chronicle Editor
Online Business Reporter
LISTED hospitality concern Rainbow Tourism Group has told shareholders that it is engaged in negotiations for a potential acquisition of a yet-to-be-named complementary business.
In a notice to shareholders today, Thursday, the hotel group said if successfully concluded, the transaction may have a material effect on the price of the Company’s securities.
“The Board of Directors of Rainbow Tourism Group Limited (“the Company”) wishes to advise all shareholders and the investing public that the Company is currently engaged in negotiations for a potential transaction involving the acquisition of a complementary business.
“If successfully concluded, the transaction may have a material effect on the price of the Company’s securities,” reads the notice,
“Shareholders are therefore advised to exercise caution and to consult their professional advisors when dealing in the company’s securities until finalisation.”
Bongani Ndlovu
Online Reporter