Bidvest Namibia and the Monkey Thorn

Posted: 8 Mar 2019

During Bidvest Namibia’s annual leadership summit, on Wednesday, some 80 Monkey Thorn trees were given to each of the attending managers to plant as a way of contributing to the environment. In his address to the managers, CEO Sebby Kankondi compared Bidvest Namibia to this big and hardy Acacia species saying that “like the Monkey Thorn, Bidvest Namibia is resilient.”

“Bidvest Namibia grew rapidly over the years, and yes, there were highs and lows, yet we kept going. Despite having withdrawn from the fishing sector, Bidvest Namibia still remains a strong contributor to the Namibian economy and job creation. We care for and protect our employees, because we know without them there is no growth.”

“The Monkey Thorn is not a victim. It does not feel sorry for itself. It does not complain. It just grows and gives the best it can. Bidvest Namibia is not a victim of the recession. Bidvest Namibia does not feel sorry for itself, nor do we complain. Bidvest Namibia is focused on ensuring that we give the best product and service that we can. That we are constantly alert for opportunities to be innovative and to grow,” said Kankondi.

Kankondi told attendees to plant their trees in any location. “In your garden, at your office, in a park, at a school or church, where ever you can plant a tree and know that you planted a tree under whose shade you do not expect to sit one day.”

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Notice Board

Sens Binding Conditional Offer for take-over

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.

Sens Bidvest Group take-over offer

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.

Sens Impact of Sale of Bidfish on EPS

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.

Sens Sens Cautionary

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.

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