Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Korridor Namibia (Pty) Ltd of the issued share capital in Korridor Fuel Namibia (Pty) Ltd from Mr. William Esterhuizen.

Acquiring group: The primary acquiring undertaking, Korridor Namibia (Pty) Ltd., is incorporated in terms of the laws of Namibia and controlled by Korridor Holdings Limited. The primary acquiring undertaking provides transborder logistical solutions, including access to and local support for the Korridor Platform. The acquiring group is involved in the platform, which offers onboarding and supporting Namibian and regional transport customers; holding and administering local bank accounts for customer funds; facilitating cash-free and managed cash payments for transport-related services; and operating local offices.

Target undertaking: The primary target undertaking, Korridor Fuel Namibia (Pty) Ltd., is incorporated in terms of the laws of Namibia and is controlled by Mr. William Esterhuizen. The target undertaking operates a wholesale fuel depot and associated storage facilities.

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