The board of directors of LAVASTONE Ltd (“Company”) is pleased to announce that it has reached an agreement for the acquisition of Compagnie Valome Limitee (“CVL”). CVL is the owner of Mourouk Ebony Hotel in the island of Rodrigues. The acquisition is subject to the fulfilment of certain conditions precedent as well as to the approval of the relevant regulatory authorities.
Following the acquisition of CVL, the Mourouk Ebony Hotel will be operated by Trimetys Ltd (“Trimetys”) in accordance with an agreement reached with the Company. Trimetys is a well-established hotel operator in Rodrigues where it operates Le Tekoma Boutik Hotel. The proposed acquisition will not be classified as a significant transaction under the Securities Act 2005 or the DEM Rules.
Shareholders and the investing public are advised to exercise caution when dealing in the shares of the Company.
By order of the Board
Cim Administrators Ltd
27 December 2018
This Communiqué is issued pursuant to the Securities Act 2005 and DEM Rule 21. The board of directors of Lavastone Limited accepts full responsibility for the accuracy of the information contained in this Communiqué.