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Message: [QUOTE="Queen, post: 86554, member: 27"] A five point six five million dollar exit is about to shrink African Sun Limited’s footprint while stacking cash for a tighter, higher-yield hotel lineup. Caribbea Bay Resort sale push [LIST] [*]African Sun Limited wants shareholders to greenlight a US$5.65 million exit. [*]September 19, 2025, board members okayed the PSPF offer. [*]Public Service Pension Fund would take the Kariba property outright. [*]Once finalized, Caribbea Bay drops off ASL’s books entirely. [/LIST] What the PSPF deal covers [LIST] [*]The package bundles the hotel business as a going concern. [*]Assets span 84 rooms, suites, and leisure setups. [*]Also folded in are 11 timeshare units. [*]Kariba staff housing and related liabilities move with it. [/LIST] Cash flow and payment terms [LIST] [*]Escrow will hold the full payout. [*]Funds must land within 45 calendar days. [*]VAT may stack onto the purchase price. [*]Signature date triggers the payment clock. [/LIST] Asset dump spree since 2024 [LIST] [*]African Sun Limited has been trimming what it calls non-core holdings. [*]Great Zimbabwe Hotel and Laclede Investments left for US$4.2 million. [*]Monomotapa Hotel went to the Public Service Commission for US$18 million. [*]PSC differs from PSPF, which handles civil servant pensions. [/LIST] Reinvestment into flagship hotels [LIST] [*]Proceeds are earmarked for Elephant Hills Resort upgrades. [*]Holiday Inn Hotels are lined up for refresh work. [*]The Victoria Falls Hotel also sits on the upgrade list. [*]ASL wants a tighter focus and stronger margins. [/LIST] Financial position and meeting date [LIST] [*]An extraordinary general meeting lands on March 4. [*]Shareholders will weigh the proposed disposal there. [*]Third quarter 2025 cash jumped 87 percent. [*]Holdings reached US$19.9 million after recent sell-offs. [/LIST] [/QUOTE]

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