Following a “Notice to the Shareholders” of the Company on 08 May 2014, Stowe Holdings (Pty) Ltd (“Stowe”) announced the formal conclusion of a Sale Share Agreement between Stowe, Westand Investments CC (“Westand”) and the M.Tandree Family Trust.

Under this transaction and effective 01 June 2014, the Tandree Trust will acquire 9.5% of Westand’s issued and outstanding share capital within Stowe, with Maveshan Tandree acting as the proxy to the Board of Directors.

The principles to the Stowe Share Sale Agreement: Maveshan Tandree, Cheryl Tandree, Steve Owen, Barbara-Anne Day-Stander, Henk Stander

The principles to the Stowe Share Sale Agreement:
Maveshan Tandree, Cheryl Tandree, Steve Owen, Barbara-Anne Day-Stander, Henk Stander

This agreement comprises of two distinctive & private share sale transactions, in due consideration of current market value, but also the Company’s long-term goals to obtain suitable equity partners in driving its ongoing business and governance strategies.

As a result, Stowe’s Broad Based Black Economic Empowerment (BBBEE) equity structures will be settled at 35% “Black Owned”; inclusive of the Stowe Employees Trust (25.5%), the H.Stander Family Trust (25%), the SK.Owen Family Trust (25%), Westand Investments CC (15%) and the M.Tandree Family Trust (9.5%).

As a key consideration to the Company’s shareholder and partnership structures, the retaining of in-house investors – and thereby maintaining private funding for its ongoing business operations – remains a paramount strategy.