The annual Bidvest Namibia Leadership conference was held in Windhoek last week with some 115 participants attending. The conference featured various speakers and activities including a talk on dealing with stress the current Bidvest financial position and an in-depth overview of the macro-economic forces effecting the Namibian economy, by economist and newspaper owner Daniel Steinmann.
It was the third presentation by the Namibian University of Science and Technology’s FABlab group that had many participant glued and riveted in their seats. With an actual 3D printer and other gadgets on display, Kirstin Wiedow, took the group through a glimpse of some of the amazing technological advances. According to Wiedow the rapid technological advances are based on the concept of “disruptive innovation”. She explained that disruptive innovation requires people to turn the norm upside down. “We were always told to think outside the box for new innovations, but now disruptive innovation throws the box away and comes up with a completely different, often thought of as impossible, solutions.”
As part of the group-work activities, the participants were challenged to come up with a new company, products or service that could be implemented tomorrow and be a differentiating factor in the current market place and economic conditions. Inspired by the previous presentations the participants came up with various service improvements of which many were focused on convenience to the customer by providing additional services online, consolidating others for a seamless experience and even a automated window cleaning robot for skyscrapers called Gecko.
The last session featured Namibia businesswoman, Twapewa Kadhikua, who gave an inspiring talk on entrepreneurship by telling her life story and the lessons she learned while building her business empire from the humble beginnings of hairdressing and braiding. In his opening and closing statements, Bidvest Namibia CEO, Sebby Kankondi urged the participants to work together as a team. “In these difficult times we must support and assist each other in order for group to grow. If we pool these strengths together as a team we are so much stronger and agile in overcoming any challenge that we may face.”
The shareholders of Bidvest Namibia are informed that on 10 April 2019, Bidvest Namibia received a Binding Conditional Offer (“”Offer”) from Bidvest Group, the majority shareholder of Bidvest Namibia, to acquire all of the shares held by the minority shareholders in Bidvest Namibia (“Bidvest Namibia Shareholders”) at 10.50 per share, which Offer will be subject to inter alia the successful passing of the De-listing Resolution as set out in the conditions, together with the take-over statement and Offer amounts to a takeover scheme.
Shareholders of Bidvest Namibia are informed that Bidvest Namibia has received a intended binding offer from Bidvest Group, the majority shareholder of Bidvest Namibia, in terms of which Bidvest Group intends to make an offer to acquire all of the outstanding ordinary shares in Bidvest Namibia not currently held by Bidvest Group, by way of a take-over scheme. The amount offered in terms of the Intended Conditional Offer is a cash only consideration of N$10.50 per Offer Share, subject to the successful passing of the De-listing Resolution as set out in paragraph 2 below.
Investors are referred to the NENS announcement released on August 31, 2018 relating to the finalization announcement of the sale by Bidvest Namibia of the entire issued capital of Bidvest Fisheries Holdings to Tuncar Fisheries. The results of Bidfish have been presented as discontinued.
Further to the cautionary announcement dated December 12, 2018, shareholders are advised that the Company has entered into discussions, which if successfully concluded, may have a
material effect on the price of the Company´s securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in Bidvest Namibia´s securities until a final announcement is made.