The offer by Pep to acquire Pep Namibia from shareholders (other than PEP) for 110 cents per share has been accepted by shareholders representing 95% of Pep Namibia shares subject to the offer, clearing the way for the Namibian company to be de-listed from the Namibian Stock Exchange (NSX).

Announcing the approval, Pep Namibia said in a statement that, as the offer was accepted by more than 90% of Pep Namibia shareholders, the remaining shareholders in Pep Namibia would be subject to a compulsory acquisition.

Pep Namibia shares would be suspended from the NSX with effect from market close today, Friday, January 30, and the company was scheduled to be de-listed from the NSX on Monday, March 15.