The Pandula Trust was formed by Bidvest Namibia employees to provide community support in the form of Angel Deeds. During this festive season the Trust provided children of the Promiseland Pre-school in Tutaleni, Walvis Bay with school clothes, shoes and stationary. Pandula then took the road along the Kuiseb river to the Topnaar community, about 35 km from Walvis Bay to deliver the Grade 1 school starter packs to the !Khuiseb Arise and Shine Kindergarden and Pre-School. Some of the other Angel Deeds included identifying children in need of special educational goods, assisting with the SPCA’s veterinary account and supporting a Grade 12 school leaver from a local foster home to guide her on a career path! With its Angel Deeds at hospitals, Pandula assisted two single mothers who were tending to their sick babies at the state hospital. The one mother was also the victim of a shack fire and had lost most of her belongings. Pandula assisted each of these mothers with grocery vouchers worth N$1,000 in addition to a bag full of baby necessitates. It’s the small acts of kindness that make the biggest impact.
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.