BIDVEST Namibia shareholders have approved the de-listing of the company from the Namibia Stock Exchange.
In an announcement on the Namibia Stock Exchange (NSX) this morning, Bidvest Namibia said, “shareholders are hereby advised that the requisite majority of Bidvest Namibia shareholders eligible to vote, have approved the delisting.”
They had made the de-listing announcement early April, following South African distribution conglomerate Bidvest Group Limited wanting complete control of Bidvest Namibia.
The group in a number of announcements made on the NSX proposed a takeover of the entire shareholding of the subsidiary through share acquisition from other owners at N$10,50 per share, to be followed by a de-listing from the NSX.
The offer is dependent on whether the central bank and the current shareholders, excluding the Bidvest Group, will approve a de-listing from the NSX.
“In terms of this passed resolution (de-listing), the listing of all the Bidvest Namibia Shares of Bidvest Namibia on the main board of the NSX be suspended and terminated with effect from 11 June 2019 or at such times and such dates as will be approved in accordance with the Bank of Namibia and by the NSX,” the company said.
