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      Home Companies & Markets

      CA Sales increases its stake in Logico

      CA Sales Holdings Limited says it has concluded an asset for-share agreement with Lee Darran Taman and Anthony John Geldard to sell an aggregate of 20,000 ordinary shares held by them in the Company’s subsidiary, Logico Unlimited Proprietary Limited comprising 20 percent of the issued shares in Logico to CA Sales.

      mm by Baboloki Meekwane
      December 30, 2021
      in Companies & Markets
      Reading Time: 1 min read
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      CA Sales increases its stake in Logico

      GABORONE 9 November 2017, CA Sales Botswana listed with the Botswana Stock Exchange in Gaborone on 9 November 2017. BSE chief executive officer Thapelo Tsheole and CA Sales officials ringing bell to mark the official listing. (Pic:PRESS PHOTO)

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      “The aggregate purchase consideration of which will be settled by the Company through the payment to the Sellers of a cash consideration and by issuing ordinary shares to the Sellers,’’ the company explained in an issued statement to their shareholders .

      The reason behind the transaction is to align the interests of the Sellers more closely to those of the Company’s group (not only those of Logico) and for CA Sales to acquire 100 percent of Logico. With this in mind, the board of the Company has resolved to conclude the Transaction, in terms of which the Sellers will be acquiring additional shares in CA&S in exchange for their shareholding in Logico.

      According to the statement the Sellers will sell their respective Logico Shares to CA Sales in two separate tranches, the aggregate purchase consideration of which will be settled partly through a cash payment and partly through the issuing by CA Sales of new ordinary shares to the Sellers.

      Logico is primarily a Fast Moving Consumer Goods (FMCG) Sales & Distribution Business offering various solutions to its clients for the most effective solution for the Swaziland market while CA sales operates within the FMCG industry and delivers services to blue chip manufacturers, both locally and internationally. Its service offering includes selling, merchandising, warehousing, distribution, debtor’s administration, marketing & promotions, point of sale warehousing and training. The group has offices and facilities in all the main centers throughout Botswana, Swaziland, Namibia, South Africa, Lesotho, Zimbabwe, Zambia and Mozambique

      Tags: Anthony John GeldardCA Sales Holdings LimitedLee Darran TamanLogico Unlimited Proprietary Limited

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