Description of Activities

Description of transaction: The transaction concerns the proposed acquisition by Petrus Jacobus Schrader (“Scharader”) of the immovable agricultural land known as Farm Okaputa No 334 (“Okaputa”) from Okaputa (Proprietary) Limited (“Seller”), which is currently in liquidation.

Acquiring group: The primary acquiring undertaking is Petrus Jacobus Schrader, a Namibia citizen. Schrader directly owns various residential and industrial lands in his personal capacity and controls Hoasas Farming Investment CC, Okaruikosonduno CC, Gernam Holdings (Proprietary) Limited, Omarassa Eberhardt (Proprietary) Limited, and Mopanie Investments CC, all of which hold interests in agricultural land. Schrader also exercises joint control over BV Investments Five Hundred and Thirty Two CC, which holds interests in residential properties. The acquiring group's activities include cattle farming, the provision of auctioneering services, and property investments. 

Target undertaking: The target undertaking is Farm Okaputa No. 334, located in the Otjozndjupa region and wholly owned by Okaputa Okaputa (Proprietary) Limited, which is, in turn, controlled by Ian Robert McLaren (“Final Liquidator”). Apart from the agricultural immovable property forming the subject matter of the transaction, the Seller does not own any other immovable property in Namibia, nor does it hold any shares, members’ interests, or other interests in any entity that owns agricultural land in Namibia.

Relevant market: The relevant market for the transaction is the market for agricultural land in Otjozondjupa Region, Namibia.

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