Namsov Fishing Enterprises, a subsidiary of Bidvest Fisheries Holdings, has signed a purchase agreement acquiring a vessel from Industrial Fishery and Shipping “Captain” Company Limited. The vessel has been acquired as part of a planned fleet renewal programme designed to upgrade the Namsov fleet profile to more modern vessels, with larger processing and storage capacities, which are expected to enhance efficiencies and productivity.
The MFV Otaman Kalnyshevsky is an all steel, hulled Moonzund vessel, built in 1990 in Germany, registered in Illichivsk, Ukraine.
The purchase is effective 30 October 2009 and all conditions precedent have been fulfilled.
The MFV Otaman Kalnyshevsky was acquired for a total consideration of N$208.8m. The consideration has been settled through N$130m financing arranged by Namsov, through banking institutions in Namibia, with the balance being settled through Namsov’s own cash resources.
Shareholders of Bidvest Namibia are referred to the circular to Bidvest Namibia Shareholders containing details of a conditional take-over by the Bidvest Group to Bidvest Namibia Shareholders, to acquire all remaining Bidvest shares not owned by the Bidvest Group by way of a take-over scheme (‘offer’). Subsequent to the acceptance of the Delisting Resolution by the requisite majority, the offer has been declared unconditional by the Bidvest Group and has become effective, irrevocable an open for acceptance during the Acceptance Period.
Further to the cautionary announcement released on the Stock Exchange News Service (“NENS”) of the Namibian Stock Exchange (“NSX”) on 12 December 2018, the subsequent renewal of the Cautionary Announcement released on NENS on 23 January 2019 and 1 March 2019 and the announcements released on NENS on 11 April 2019 and 25 April 2019. Shareholders are hereby advised that the requisite majority of Bidvest Namibia shareholders eligible to vote, have approved the delisting. In terms of this passed resolution, the listing of all the Bidvest Namibia Shares of
Bidvest Namibia on the Main Board of the NSX be suspended and terminated with effect from 11 June 2019 or at such times and such dates as will be approved in accordance with the Bank of Namibia and by the NSX
Further to the cautionary announcement released on the Stock Exchange News Service of the Namibian Stock Exchange on 25 April 2019 relating to the circular to shareholders, supplementary information relating to the sum of the parts valuation, culminating in the fair and reasonable valuation range of N$8.95 to N$9.45 as per the E&Y Fair and Reasonable opinion included in the circular, is available on the this website.
Further to the cautionary announcement released on the Stock Exchange News Service of the Namibian Stock Exchange on 12 December 2018, the subsequent renewal of the Cautionary Announcement released on NENS on 23 January 2019 and 1 March 2019 and the announcement released on NENS on 11 April 2019. A combined circular has been issued today by Bidvest Namibia Limited and the Bidvest Group to a conditional Take-over offer in terms of sections 320 – 327 of the Companies Act….