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Bank Windhoek Holdings Ltd Updates on Acquisition of Entire Stake in Capricorn Unit Trust Management Company Limited


Friday, 28 Jun 2013 06:27am EDT 

Bank Windhoek Holdings Ltd (BWH) announced that, in respect of the acquisition by the Company of the entire issued share capital of Capricorn Unit Trust Management Company Limited (CUTM), all regulatory approvals have been received and CUTM will become a wholly owned subsidiary of BWH effective July 1, 2013. The Boards of BWH and Sanlam Namibia Holdings (Proprietary) Limited have approved the acquisition of CUTM by BWH from Sanlam Namibia Holdings (Proprietary) Limited with effect from July 1, 2013 for a consideration of NAD 64,750,000.00. The consideration will be settled through the issue of 7,400,000 ordinary BWH shares, ranking pari passu with all other ordinary shares, to be issued to Sanlam Namibia Holdings (Proprietary) Limited or its nominee(s). The transaction was subject to approval by the Bank of Namibia, the Namibia Competition Commission and the Registrar of Unit Trust Companies. 

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23 Dec 2014