Description of Activities

Description of transaction: The proposed transaction concerns acquisition by Cardwell Investment (Pty) Ltd (“Cardwell”) of the immovable property, Portion 30 (a portion of Portion 3) of the farm Emmarentia No. 380 (“the property”). Following the implementation of the proposed transaction, Cardwell will solely own Portion 30 (a portion of Portion 3) of the farm Emmarentia No. 380.

Acquiring group: The primary acquiring undertaking is Cardwell, which is controlled by Epic Properties, which in turn is controlled by Epic Holdings (Pty) Ltd and ultimately controlled by Mr. Etienne Weakley. The acquiring group is mainly a property-owning / investment group. Many of the properties are subject to lease agreements. The acquiring undertaking also sells scrap metal and is involved in the transport business.

Target undertaking: The primary target undertaking is the immovable property, Portion 30 (a portion of Portion 3) of the farm Emmarentia No. 380, in the Municipality of Windhoek. The current business activity on the Property is a transport depot of the acquiring undertaking.

Relevant market: The relevant market is the ownership of immovable property zoned as Industrial in Windhoek.   

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