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.”
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.
Bidvest Namibia hereby announces the unwinding of the Ovanhu and Endeni empowerment shareholding structures. Agreements were reached between Bidvest Group Limited (“Bidvest Group”), the majority shareholder in Bidvest Namibia, and the shareholders of Ovanhu and Endeni. In terms of these agreements Bidvest Group will acquire the entire share capital and all claims in Ovanhu and Endeni. Read the full details in the attached PDF.