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Byline: Thabang Mokopanele
Queensgate seeks funds after investors withdraw THABANG MOKOPANELE A DROP in international tourist numbers coupled with the withdrawal of financial institutions from the hotel development market took their toll on Queensgate Hotels & Leisure's bottom line for the six months ended February.
Adding to the group's woes was that its traditional source of funding, German investors, became cautious and risk averse, and equity financing for emerging companies the primary motivation for the group's reverse- listing transaction became extremely difficult to access.
The group said in a regulatory announcement on Tuesday that the …