Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Marble Hill Investments (Pty) Ltd of the entire issued share capital of Namibia Marble and Granite (Pty) Ltd and Xclusive Marble Processing (Pty) Ltd from Franz Wittreich, Franz-Peter Wittreich, and Carmen Biance Wittreich.

Acquiring group: Marble Hill Investments (Pty) Ltd is a private company, recently incorporated in terms of the laws of Namibia, with no active commercial operations in Namibia. The Acquiring group is ultimately controlled by two South African natural persons, namely, Mr. Willem Jacobus Odendaal and Mr. Jan Michiel Odendaal. The acquiring group is in the business of property investment, development, and holding and, on balance, has no commercial activity within Namibia.

Target undertaking: The target undertakings (Namibia Marble and Granite (Pty) Ltd and Xclusive Marble Processing (Pty) Ltd) specialise in the mining and exporting of marble products. Specifically, the mining and exporting of white marble blocks, selling of marble aggregates and dust by-produced, and the processing of marble blocks into polished slabs for export.

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