GPI Lists on the Johannesburg Stock Exchange

June 11 - Grand Parade Investments, which was launched as an empowerment partner in the SunWest application for the Cape Metropole casino license in 1999, reached a milestone of its own after listing on the Johannesburg Stock Exchange on the weekend.

After obtaining the backing of its 5500 shareholders in a magnificent celebration at the GrandWest Casino in Cape Town, the company's chairman, Hassen Adams made the move to list GPI on the JSE.

"The reason for listing is the result of a mandate by thousands of GPI shareholders to corporatise their shares, in an environment where formal trading through a fair market can take place," said Adams.

GPI holds substantial interests in a wide range of companies in the gaming, tourism and leisure industries in South Africa and its portfolio is growing at a remarkable pace. The company's most impressive deal to date has been a R450 million transaction which saw Grand Parade Investments acquire 23% of Real Africa Holdings.

"The Real Africa transaction has effectively given us the opportunity to use our scrip and some cash to acquire their assets from individuals and institutions," said Adams. "This, together with its existing assets, has allowed GPI to grow from an initial investment of R28 million to market capitalization of R2.5 billion."

Adams and the shareholders of GPI are striving to become major players in South Africa's growing entertainment, tourism and gambling industries. "GPI has come a long way since its inception 11 years ago as the empowerment partner in the SunWest casino application," said Adams. "In now holds valuable interests in operations all over the country and has become a fully fledged, inclusive national company in its own right. We are very proud to be taking the next logical step in GPI's development: listing on the JSE."

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