e Board of Directors ("the Board") of IBL Ltd (the 'Company') wishes to inform its shareholders and the public in general that the Company will subscribe to additional shares in Mambo Retail Ltd. e proceeds of the subscription of shares will be utilized by Mambo Retail Ltd to acquire an additional 11% in Naivas International ("the Transaction"), the leading retail chain in Kenya which will result in Mambo Retail Ltd holding 51% of the shares in Naivas International Ltd.
e Company wishes to confirm that the Transaction is a Disclosable Transaction as per Chapter 13 of the Listing Rules and a Disclosable Transaction Circular shall be released to the shareholders accordingly.
Shareholders and investors are advised to exercise caution when dealing in the shares of IBL Ltd.
By order of the Board
IBL Management Ltd
Company Secretary
3 July 2023
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
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IBL Ltd. published this content on 03 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 July 2023 06:41:09 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%).