Description of Activities

Description of transaction: The proposed transaction is contingent on 2026JJUN0033MER’s determination and involves shares acquisition by Ironclad Trading Enterprises (Pty) Ltd of total issued share capital in Namibia Estate Enterprises (Pty) Ltd. Following the implementation of the transaction, Ironclad Trading Enterprises (Pty) Ltd will become the sole shareholder of Namibia Estate Enterprises (Pty) Ltd.

Acquiring group: The primary acquiring undertaking is Ironclad Trading Enterprises (Pty) Ltd, a Namibian registered investment vehicle recently established for the sole purpose of holding the issued shares of the Namibia Estate Enterprises (Pty) Ltd. 

Target undertaking: The primary target undertaking is Namibia Estate Enterprises (Pty) Ltd; it conducts business as a lodge and tourism establishment under the name “GocheGanas Lodge and Nature Reserve." 

Relevant market: The merging parties submit that the relevant market is hospitality & tourism.

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