R.E.A. Trading Secures 94.62% of REA Vipingo Plantations After Successful Offer
Wednesday, 27 January 2016
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Nairobi, 27 Jan 2016 –-- R.E.A. Trading Limited has received acceptances from shareholders of REA Vipingo Plantations Limited that take its ownership of the sisal grower’s issued share capital to 94.62%.

This is according to final results of the offer, which closed on 27 May 2015, which have been approved by the Capital Markets Authority. R.E.A Trading had made an offer to acquire shares in REA Vipingo Plantations Limited that it did not already own.

Richard Robinow, R.E.A. Trading’s chairman said: ‘We are delighted with outcome of the offer process. This allows us to move forward with our plans for the future, which involve diversification of the REA Vipingo Plantations business in addition to large-scale sisal growing. Amongst other things, we intend to look at the utilisation of biomass for energy generation.’ 

Following successful conclusion of the offer, cash payments to shareholders who accepted the offer, comprising an aggregate of KES85 per share (KES70 per share plus the KES15 cash top-up for each share that REA Trading has elected to pay) will be effected as from 1 July 2015.

R.E.A. Trading has been a long-term investor in REA Vipingo Plantations and has a proven track record in managing plantations. The next step in the transaction will be the de-listing of the company from the Nairobi Securities Exchange. (By Paul Agonda, BA,Research Analyst Africa Assets)



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