Description of Activities

Description of transaction: The proposed transaction involves the acquisition by Eindpaal-Stillerus Nature Reserve (“Eindpaal”) of Farm Stillerus No. 694 (“Farm Stillerus”) from the Estate of Late Mr Ewerthardus Burger (“Mr. Burger") and was jointly controlled by Mr. Burger and Mrs. Heleen Burger (“Mrs. Burger”).

Acquiring group: The primary acquiring undertaking is Eindpaal-Stillerus Nature Reserve (Proprietary) Limited (“Eindpaal”), which is wholly owned and controlled by the Swen Bachran Family Trust (“SBFT”). Eindpaal does not own or control any entity; however, SBFT owns Bachran Property Investments (Pty) (“BSI”), GIS Namibia (Pty) Ltd (“GIS Nam”), Mozart Square (Pty) Ltd (“M Square"), and Rainy Day Investments Thirty-Nine (Pty) Ltd (“Rainy Day”). Eindpaal, SBFT, and its entities are together referred to as the Acquiring Group.

While Eindpaal does not conduct any business activities, the rest of the acquiring group is involved in property holding and leasing activities for offices and business in the Khomas and Hardap regions, Namibia.

Target undertaking: The primary target undertaking is Farm Stillerus No. 694 (“Farm Stillerus”), which is jointly owned by the late Mr. Burger and Mrs. Burger. Neither Farm Stillerus nor Mr. and Mrs. Burger own or control any other entities. Farm Stillerus conducted commercial livestock farming activities and occasional hunting activities, which have all ceased to operate upon liquidation of the late Estate.  

Relevant market: The merging parties defined the relevant market as commercial livestock farming and wholesale supply of live cattle for slaughter in the Kunene region, Namibia. 

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