Further to the cautionary announcement dated 13 November 2024, the Board of Directors of IBL Ltd (the "Company") wishes to inform shareholders and the public that all conditions precedent have been fulfilled.
Me Company has completed the disposal of a 22.40%, out of its total 30.29% equity stake in AfrAsia Bank Limited ('ABL'). As a result, IBL will retain a 7.89% equity stake in ABL alongside Me Access Bank UK Limited.
Mis Transaction qualifies as a Disclosable Transaction under Chapter 13 of SEM's Listing Rules. Shareholders and the investing public will be kept informed of further developments.
By order of the Board IBL Management Ltd Company Secretary
23 July 2025
mis Communiqué is issued pursuant to Listing Rule 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.
me Board accepts full responsibility for the accuracy of the information contained in this Communiqué.
BRN: C07001778
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IBL Ltd. published this content on July 23, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 23, 2025 at 13:00 UTC.
IBL Ltd is a diversified group organized around 7 areas of activity:
- mass retailing (32.4% of net sales): distribution of consumer products (food, wines and spirits, household goods, personal care products, stationery products, etc.), printing equipment and consumables, pharmaceuticals , medical equipment, chemicals and agrochemicals;
- agri-food (21%): production and processing of sugar cane, production and bottling of beverages, production and processing of fish, etc.;
- engineering and construction (20.6%): manufacturing of building materials, development of diesel and electro-diesel engine repair and maintenance solutions, engineering and construction services for construction and industry sectors, sales of industrial and agricultural machinery, rental, servicing and maintenance of building and handling equipment, ship construction and repair services, etc. ;
- hotel operation (14.8%);
- logistics and transport (4.5%);
- financial services (4.3%): banking, insurance, financing services, investment fund management, investment services, etc.;
- other (2.4%): property, pharmaceutical and cosmetic products research and development services, development of testing and certification solutions, etc.
Net sales break down geographically as follows: Mauritius (83.1%), Madagascar-Comoros-Seychelles-Reunion (7.9%), Maldives (3.9%), Europe (2.3%), the United States (0.1%) and other (2.7%).
