CBZ Holdings says it has concluded all legal and administrative processes pertaining to the acquisition of a 31,22 percent stake in First Mutual Holdings.
“Notice is hereby given to Shareholders of CBZ Holdings Limited (“CBZHL”) that in October 2019, CBZHL and the National Social Security Authority (“NSSA”) concluded a Share Purchase and Sale Agreement (“the Agreement”) in terms of which CBZHL purchased 31,22 percent of the shares in the share capital of First Mutual Holdings Limited (“FMHL”) from NSSA (“the Transaction”).
“The Transaction was approved by Shareholders of CBZHL at an Extraordinary General Meeting held on 31 January 2022,” CBZ said in a note.
“All the required approvals have now been obtained and administrative aspects of the Agreement have been concluded and upon transfer of the shares purchased, CBZ Holdings Limited will become a significant shareholder of First Mutual Holdings Limited.”