Malie selling Pioneer Mall shares

MASERU — Prominent businessman Mpho Malie (pictured right) is disposing of his shares in Pioneer Shopping Mall hardly two years after the centre opened its doors.

Malie says “certain other shareholders” and himself were selling their stake in Moruo Development Limited, the company that developed and owns Lesotho’s only upmarket shopping centre.

Malie could however not shed more light on the issue when contacted by the Lesotho Times on Saturday.

“No, I can’t comment on it. It is a personal matter,” he said.

However a notice placed in a local newspaper by him read: “Mr Mpho Malie and certain shareholders wish to dispose of their interests in Moruo Development Limited, being the developer and owner of Pioneer Shopping Centre being shares with linked shareholders’ loan accounts.”

The offer closed on April 19. The quantum and value of the shares ready for disposal was unavailable yet.

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In an interview with the Lesotho Times on Friday, Moruo Development Limited managing director Andre Bothman confirmed that Malie was selling his shares.

“We have heard that Mr Malie is selling his shares. But questions on why he is selling his shares can be directed to him,” Bothman said.

Meanwhile, Bothman said a phase two expansion plan of the mall was being finalised.

He refused to give further details until tenants were notified.

Bothman said the M150 million shopping centre had performed “well”.

“It now has 99.2 percent occupancy with Edgars Stores opening in a week’s time. Then we will be left with only one vacant store,” he said.

Moruo Development Limited has 36 shareholders, 98 percent of them being locals, said Bothman.

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