Chamwe Kaira
Stimulus Investments Limited has sold a 7.2% stake in Cymot Investments (Pty) Ltd and renewed a cautionary notice to shareholders.
In a voluntary update issued on the Johannesburg Securities Exchange (JSE), the Namibia-incorporated investment holding company said it concluded the transaction to partially exit its investment in Cymot.
The sale increases the shareholding of the Cymot Employee Share Trust, allowing greater ownership by employees within the Cymot Group.
Stimulus said the transaction was settled in cash. After the sale, the company retains a 25.1% shareholding in Cymot Investments.
The company also advised shareholders that it has entered into separate negotiations which, if concluded, could affect the price of its listed 2011 Preference Shares.
Shareholders were advised to continue exercising caution when dealing in the shares until a further announcement is made.
Stimulus’ 2011 preference shares are listed on the Namibia Securities Exchange (NSX) and give holders exposure to a diversified portfolio of unlisted private equity-type investments through its portfolio companies.
Cymot is a privately owned, wholly Namibian company founded in 1948.
It operates a network of branches across Namibia and trades on a wholesale basis in South Africa and Angola. The company supplies more than 45 000 products and uses an advanced system to source and order new stock.
Stimulus holds equity investments in the Cymot Group, Khomas Solar Saver (Pty) Ltd, Neo Paints Group, Plastic Packaging Group, Polyoak Namibia (Pty) Ltd, Walvis Bay Stevedoring (Pty) Ltd, and Desert Trade Investments (Pty) Ltd. Desert Trade Investments previously owned Namibia Media Holdings (Pty) Ltd and Newsprint Namibia (Pty) Ltd and still owns the properties occupied by these entities.
In its 2025 financial results, Stimulus said its board was actively pursuing the sale of the properties owned by Desert Trade Investments and would consider further exits if they make economic sense.
The company said it will not make new investments, except for possible investments in existing portfolio companies aimed at improving investor returns.
