- Tsaone Segaetsho
BSE-listed ecotourism company, Chobe Holdings, announced on Tuesday that its Chief Executive Officer, John Gibson, has increased his stake in the company following positive financial results.
Capitalising on the company’s strong financial performance for the year ended 29 February 2024, Gibson purchased 319 shares worth P4,887.08 on Monday afternoon as a direct beneficiary, with the Chobe share price at P15.32.
This announcement was made public by Chobe Holdings’ company secretary, Itumeleng Dipholo, on Tuesday morning in compliance with the Botswana Stock Exchange (“BSE”) Equity Listings Requirements.
Gibson was appointed CEO of Chobe Holdings in September 2022, succeeding his father, Jonathan Moore Gibson, who continued as Chobe’s Deputy Board Chairman and as an executive director to ensure a smooth transition. He is quoted as saying, “these are extremely strong results, both revenue and profit for the year.”
He said the company has built upon the improvements of the previous year and has significantly surpassed those reported prior to the COVID-19 pandemic. This success is attributed to strong demand from source markets and effective marketing strategies that have grown the agent base, improved yield and Revenue per Available Room (“RevPAR”), and increased occupancy rates.
“These improvements have been felt across the business, with the performance of our hospitality brands Desert & Delta Safaris and Ker & Downey Botswana being particularly strong,” Gibson added.
Chobe directors have declared a net dividend of 80 thebe per share, payable to shareholders registered at the close of business on 13 June 2024, with an ex-dividend date of 11 June 2024, and payment on 25 June 2024.
The Chobe share price has been rising steadily from P9.50 on 12 June 2023, though it fluctuated slightly before increasing to P15.32.
Chobe Holdings Limited owns and operates eleven eco-tourism lodges and camps on leased land in Northern Botswana and the Caprivi Strip in Namibia through its subsidiaries.
