Description of Activities

Description of transaction: The proposed transaction involves the acquisition of the entire issued share capital in Huab Farming Number Two (Proprietary) Limited and the acquisition of the entire issued share capital in Ondundu Etosha Lodge (Proprietary) Limited by S.L Swart Trust. 

Acquiring group: The primary acquiring undertaking is S.L. Swart Trust, a Trust registered with the Master of the High Court of Namibia with reference number T44/2021. The Trust is a holding Trust to acquire and hold immovable property, directly or indirectly, and to hold such property for purposes of nature conservation.

Target undertakings: The primary target undertakings are, firstly, Huab Farming Number Two (Proprietary) Limited which owns immovable property, to wit: Farm Olifantsdood No.260, Registration Division “A”, measuring 4183.6366 (Four One Eight Three Comma Six Three Six Six) Hectare and situated at Kamanjab, Namibia. Secondly, the Ondundu Etosha Lodge (Proprietary) Limited, which owns immovable property, to wit: the Remainder of the Farm Huab No.261, Registration Division “A”, measuring 2446,1843 (Two Four Four Six, Comma One Eight Four Three) Hectare and situated at Kamanjab, Namibia. The acquisition includes movable properties on the two farms.

Relevant market: The relevant market is the ownership of land classified as agricultural land in terms of the Agricultural (Commercial) Land Reform Act of 1995 for purposes of holding such land for conservation purposes. 

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