Nampak gets share acquisition notice

Nampak gets share acquisition notice

2015-01-26 11:30

Johannesburg - Nampak [JSE:NPK] advised shareholders on Monday that it received a formal notification on Friday January 23 2015  that Somerset Capital Management has, in aggregate, acquired an interest in the ordinary shares of the company.

The total interest in the ordinary shares of the company held by Somerset Capital Management now amounts to 5.03% of the total issued ordinary shares.

In December 2014 Nampak, Africa’s biggest packaging firm rebranded its Zimbabwe based subsidiaries to Nampak Zimbabwe.

The rebranding follows Nampak’s decision to consolidate its shares in three Zimbabwean packaging firms, Hunyani Holdings, MegaPak and Carnaud Metalbox under a new company, Nampak Zimbabwe, in which it will own 51.43%.

At the time analyts said the consolidation of operations will go a long way in cutting costs and overheads for the company’s packaging interests in Zimbabwe.

It will also position Nampak as the strongest packaging entity in Zimbabwe.  Nampak intends to inject $10m into Zimbabwe over the next 12 months.

READ: Nampak rebrands in Zimbabwe