Manica Group Namibia was one of the sponsors at the Erongo Economic Conference that took place yesterday during the annual Swakopmund International Trade Expo (Swaitex). The Deputy Minister of International Relations and Cooperation, Christine //Hoebes officially opened the expo and the conference. The conference featured discussions on the challenges and opportunities in the finance, logistics, mining, energy, agricultural, fishing, housing, tourism and water sectors.
A strong message that was reiterated by a number of speakers was that Namibia and in particular the Erongo Region should focus more on manufacturing and adding value instead of simply exporting raw materials. The Governor of the Erongo Region, Kleophas Mutjavikua noted that “we should not simply imitate what other countries are doing but we should learn and innovate. Next year I want to see 10% more locally produced goods being offered at the Swaitex.”
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….
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.