CHAMWE KAIRA
Namibian shareholders sold shares worth N$288 136 on the recent Nedbank odd-lot Offer.
An odd-lot offer is a ‘standard’ corporate action undertaken by JSE-listed companies whereby the company makes an offer to repurchase its shares from eligible shareholders holding less than 100 shares.
Nedbank Namibia’s Manager of Communications and PR, Selma Kaulinge explained that with regard to the sell option, as this was an elective corporate event, holders who did not make an election were automatically regarded as having elected and accepted the cash consideration for which shareholders are required to return their original share certificates for payment.
In terms of the sell option, the 67 shareholders hold 1231 shares with the value worth N$288 136.30.
“The ZAR/N$ amount payable to certificated shareholders is 288 136.30,” she said.
Kaulinge said with regard to the retain option 12 holders had retained their shares and remain as shareholders on the Nedbank share register with 411 shares.
She said in terms of post odd-lot offer in terms of certificated Namibia shareholding there are now 1 102 shareholders holding 450 992 shares.
The Nedbank Group said on 3 July repurchased a total of 2 723 917 Nedbank Group shares, representing 0,55% of the total issued ordinary share capital of Nedbank Group for a total consideration of R637 million.
Nedbank said shares repurchased by Nedbank Group in terms of the Odd-lot Offer will be delisted and cancelled on 4 July 2023, and accordingly the total issued ordinary share capital of Nedbank Group will be reduced from 491 317 982 to 488 594 065 Nedbank Group shares.
In May, Nedbank Group offered to buy shares from those who own less than 100 shares in the financial services company. Nedbank repurchased shares from the Odd-lot Holders at a 5% premium.
