By Hilary Mare
FNB Namibia’s proposed name change to FirstRand Namibia Ltd is set to be completed by July 13, the bank has said in a Stock Exchange News Service (SENS) announcement.
Earlier this year, the Board of Directors of the bank proposed the name change and highlighting that the rationale behind it was due to the fact that the activities within the FNB Namibia Holdings Limited Group had expanded to a multi-branded approach.
“Further to the announcement dated 01 June 2018 shareholders are hereby advised that the Special Resolution will be registered with the Registrar of Companies on 2 July 2018 and there willbe no further conditions outstanding relating to the change of name,” the announcement said last week.
Accordingly, thesalient dates for the change of name have been revised and the effective date of change of statutory name of the company has been set for 02 July 2018, the last day to trade in FNB shares under old name set for 06 July 2018, trading in the new name of FirstRand Namibia Ltd will commence on 09 July 2018 and record date for the change of namehas been set for 13 July 2018.
“No surrender of share certificate(s) is required. Existing share certificate(s) will continue to beaccepted as tradable instruments on the Namibian Stock Exchange (NSX). Share certificates reflecting the new name of thecompany will be issued for all transactions and transfers dated on or after Monday, 9 July 2018,” Nelago Ashipala, the bank’s Company Secretary extended.
A circular, which was to provide FNB shareholders with relevant information relating to the change of name and to enable shareholders to consider and approve the proposed special resolution for the name change was distributed on 16 March.
“The current naming of the listed entity is likened to one brand, being the FNB brand and does not reflect the multi-branded structure of the group. The proposed name, FirstRand Namibia Limited is representative of a holding company for a multi-branded Group, including the FNB, RMB, WesBank and Ashburton brands,” the financial institution said earlier this year.
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