Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Universal Commodity Company Limited of membership interest and claims in Western Trading Post CC (“Western Trading “), with a “put” option to acquire a further shareholding after 2 years.

Acquiring group: The primary acquiring undertaking is Universal Commodity Company Limited, a company incorporated and registered under the laws of Mauritius, with subsidiaries in Mozambique and Zambia. Universal Commodity Company Limited has no business activity or assets within Namibia. The Acquiring Group is engaged in global supply chain management and trading of automotive, trucking, yellow equipment, power generation products, and accessories in the territories of Mozambique and Zambia.

Target undertaking: The target undertaking, Western Trading Post CC ("Western Trading"), is a company incorporated in Namibia. It is involved in investment activities, such as investing in properties, shares, and other securities.

Relevant market: The Acquiring Group submits that its relevant market is the supply chain management and trading of automotive, trucking, yellow equipment, power generation products, and accessories in Mozambique and Zambia, while the Target Entity submits that its relevant market is the acquisition of investment assets (property and securities) in Namibia.

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