In a significant development for Wilson Bayly Holmes – Ovcon Limited (WBHO), the renowned construction and engineering company based in South Africa, Akani 2 Investment Holdings (Pty) Ltd (“Akani 2”) has acquired a substantial stake of 20.43% in the company. The acquisition, which received approval as part of WBHO’s B-BBEE transaction, is poised to have a transformative impact on the strategic trajectory of WBHO moving forward.
Under the purview of section 122 of the Companies Act, 71 of 2008, WBHO received formal notification from Akani 2 regarding the acquisition of 14,511,669 WBHO Shares. This acquisition represents a significant investment in WBHO and signifies a notable shift in the company’s ownership landscape.
In adherence to the JSE Listing Requirements, WBHO has dutifully filed the necessary notice with the Takeover Regulation Panel, as mandated by section 3.83(b) of the listing requirements. By doing so, WBHO underscores its commitment to regulatory compliance and transparency in all its operations.
WBHO’s board of directors assumes complete responsibility for the information presented in this announcement. They affirm that, to the best of their knowledge and belief, the information disclosed is accurate, and no crucial details have been omitted that could potentially impact the significance of the disclosed information.
The acquisition of such a substantial stake by Akani 2 marks a momentous milestone for WBHO, opening up new avenues for growth and collaboration within the construction and engineering industry. This strategic investment by Akani 2 serves as a testament to the confidence placed in WBHO’s business model, capabilities, and future prospects.
With the inclusion of Akani 2 as a key stakeholder, WBHO can leverage their expertise, resources, and extensive networks to fortify its market position and actively pursue fresh opportunities both in South Africa and internationally. Akani 2’s involvement is expected to bolster WBHO’s operations, contributing to the overall success of the company and generating enhanced value for shareholders.
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