Notice of Share Sale in Selebi Phikwe Citrus Ltd

STAFF WRITER | Friday April 11, 2025 14:41

 

NOTICE OF INTENTION TO SELL SHARES IN SELEBI PHIKWE CITRUS (PROPRIETARY) LIMITED TO A NON-CITIZEN IN TERM OF SECTION 34 (1) OF TRIBAL LAND ACT NO.1 OF 2018

NOTICE IS HEREBY GIVEN of the following proposed transaction to be entered into between:

Parties:

TRANSFEROR: Ramachandran Ottapathu and Zapemm B.V (862632365) being shareholders in Selibe Phikwe Citrus (Proprietary) Limited, a company incorporated in Botswana under registration number BW00000224954

TRANSFERREE: Citrico Global S.L.

THE PROPERTY: 33% of the shares in Selibe Pikwe Citrus (Proprietary) Limited which owns Tribal Lot 9688 at Mmadinare Village in the Bamangwato Tribal Territory, 1510,0495 Ha (One Thousand Five Hundred and Ten comma Zero Four Nine Five Hectares) Held under Notarial Deed of Sub-Lease No. FT MA227/2022 registered on 20th September 2022 between Mmadinare Multi-Purpose Cooperative Society Limited and Selibe Phikwe Citrus (Proprietary) Limited subject to the conditions contained in the aforesaid Notarial Deed of Sub-Lease.

CONSIDERATION: A cash amount equal to USD12,000,000-00 (Twelve Million United States Dollars).

Note: The transaction will be implemented through a share sale transaction of 33% (thirty three percent) of the shares held by existing shareholders in Selibe Phikwe Citrus (Proprietary) Limited, a company incorporated in Botswana under registration number BW00000224954 which owns the Property to Citrico Global S.L. a major european based distributor, seller and grower of citrus and other fruits.

By virtue of this notice, any Botswana citizen interested in entering into a similar transaction in respect of the abovementioned property shall be given priority and any person wishing to object to the proposed shall be given contention to object with reasons thereof, in writing, to Ngwato Land Board within 30 days after publication of this notice.

ARMSTRONGS ATTORNEYS

P O BOX 1368

GABORONE