Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Whale Rock Cement (Proprietary) Limited of the entire issued share capital in SCHWENK Namibia (Proprietary) Limited from SCHWENK Zement International GmbH & Co. KG, in accordance with the terms and conditions agreed between the parties. 

Acquiring group: The primary acquiring undertaking is Whale Rock Cement (Pty) Ltd, a private company incorporated in the Republic of Namibia. It owns and operates a cement plant outside Otjiwarongo that produces cement under the brand “Cheetah Cement”.

Target undertaking: The primary target undertaking is Schwenk Namibia (Pty) Ltd, a private company incorporated in the Republic of Namibia. Its sole purpose and activity are to hold a controlling interest in the following entities in Namibia: Ohorongo Cement (Pty) Ltd, involved in the manufacturing and supply of cement under the brand “Ohorongo Cement”, and Energy for Future (Pty) Ltd, involved in the procuring of alternative energy sources through reducing scrub encroachment on farms in Namibia and turning the subsequent biomass into energy supply exclusively for Ohorongo Cement.

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