e Board of Directors of IBL Ltd (the "Company") wishes to inform the shareholders of the Company and the public in general that, the Company intend to dispose of its 30.29% shareholding (the "Transaction") in AfrAsia Bank Limited to AFG Holding ("AFG").
AFG is headquartered in Côte d'Ivoire and is an established financial holding on the African continent with offices across Africa.
e Transaction will be subject to the satisfactory completion of conditions precedent, the obtention of relevant regulatory approvals and any other approvals required by the parties.
is Transaction is not a Notifiable Transaction under Chapter 13 of the Listing Rules.
e shareholders and the investing public are advised to exercise caution when dealing in the shares of the Company and will be kept informed of further developments in respect of this matter.
By order of the Board
IBL Management Ltd
Company Secretary
29 December 2022
is Cautionary Announcement is issued pursuant to Listing Rule 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.
e board of Directors of IBL Ltd accepts full responsibility for the accuracy of the information contained in this Cautionary Announcement.
BRN C07001778
IBLGROUP.COM
Attachments
Original Link
Original Document
Permalink
Disclaimer
IBL Ltd. published this content on 29 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 December 2022 05:12:11 UTC.
IBL Ltd is a diversified group organized around 7 areas of activity:
- mass retailing (32.4% of net sales): distribution of consumer products (food, wines and spirits, household goods, personal care products, stationery products, etc.), printing equipment and consumables, pharmaceuticals , medical equipment, chemicals and agrochemicals;
- agri-food (21%): production and processing of sugar cane, production and bottling of beverages, production and processing of fish, etc.;
- engineering and construction (20.6%): manufacturing of building materials, development of diesel and electro-diesel engine repair and maintenance solutions, engineering and construction services for construction and industry sectors, sales of industrial and agricultural machinery, rental, servicing and maintenance of building and handling equipment, ship construction and repair services, etc. ;
- hotel operation (14.8%);
- logistics and transport (4.5%);
- financial services (4.3%): banking, insurance, financing services, investment fund management, investment services, etc.;
- other (2.4%): property, pharmaceutical and cosmetic products research and development services, development of testing and certification solutions, etc.
Net sales break down geographically as follows: Mauritius (83.1%), Madagascar-Comoros-Seychelles-Reunion (7.9%), Maldives (3.9%), Europe (2.3%), the United States (0.1%) and other (2.7%).
IBL LTD 