Nictus Holdings Limited Discloses Transactions by Directors and Associates

Strategic Insights -

Nictus Holdings Limited has announced internal group restructuring transactions involving its directors and associates. The transactions, worth a total of N$186,799,885.40, involved the sale and purchase of shares among the company, its directors, and associated entities.

The transactions were made at the prevailing market price of N$2.90 per share and were aimed at consolidating the group's interests under existing associate entities. No change in beneficial control of the affected shares occurred as a result of these transactions. They were undertaken in the ordinary course of internal succession and asset structuring arrangements.

Key Takeaways:

  • Nictus Holdings Limited disclosed internal group restructuring transactions involving its directors and associates, totaling N$186,799,885.40.
  • The transactions were made at the prevailing market price of N$2.90 per share and were aimed at consolidating the group's interests.
  • A total of 5,495,108,888 shares were involved in the transactions, with the largest transaction being the sale of 17,009,356 shares by Landswyd Beleggings (Pty) Ltd for N$49,327,132.40.
  • The transactions were undertaken in the ordinary course of internal succession and asset structuring arrangements.
  • The transfers were off-market and did not result in any change in beneficial control of the affected shares.
  • The transactions involved directors GR de V Tromp, PJ de W Tromp, and associate WO Fourie.
  • The transactions were cleared by the lead independent director and received clearance from the chairman.

Statistics:

  • Total value of transactions: N$186,799,885.40
  • Total number of shares involved: 5,495,108,888
  • Market price per share: N$2.90
  • Number of directors involved: 2 (GR de V Tromp and PJ de W Tromp)
  • Number of associates involved: 6 (Nico Tromp Trust, Saffier Trust, Landswyd Beleggings (Pty) Ltd, PC Trust, The Ngepi Trust, and Red Acre Trading (Pty) Ltd)
  • Number of wholly owned subsidiaries involved: 14 (Acacia Properties (Pty) Ltd, Bel Development (Pty) Ltd, Cicada Investments (Pty) Ltd, Glasfit Namibia (Pty) Ltd, Grenada Investments Two (Pty) Ltd, Hochland 7191 (Pty) Ltd, Isuzu Truck (Namibia) (Pty) Ltd, Khomas Car Rental and Leasing (Pty) Ltd, Marulaboom Properties (Pty) Ltd, Mopanie Tree Properties (Pty) Ltd, Nictus Eiendomme (Pty) Ltd, Rubber Tree Properties (Pty) Ltd, Soutbos Properties (Pty) Ltd, and Werda Weskusontwikkeling (Pty) Ltd)

Sources:

  • Johannesburg Stock Exchange company announcement
  • Namibia Securities Exchange Listings Requirements
  • Sponsor on the NSX: Simonis Storm Securities (Pty) Ltd (Member of the NSX)