n another cautionary announcement of Metje & Ziegler shareholders were informed about Metje & Ziegler selling its hardware and building materials division, including the relevant properties, to M Pupkewitz & Sons (Pty) Ltd for approximately 22 million N$. Both companies announced the deal during a joint press conference on Monday. Some job losses on the side of M&Z will be unavoidable.

It will further entail the voluntary termination of the listings of M & Z on both the JSE in South Africa and the Namibian Stock Exchange. Herta Ernst Investments (Pty) Ltd, being the majority shareholder in M+Z, offered to purchase from all the shareholders their M & Z shares. The offer price has yet to be finalised. Accordingly, shareholders were advised to exercise caution.