Guest Contributor | Jul 3, 2019 | 0
FNB Namibia Holdings proposes name change to FirstRand Namibia Limited
The Board of Directors of FNB in a SENs announcement last week announced a proposal to change the name of the financial institution from FNB to FirstRand Namibia Limited.
According to the statement the rational and reason for the proposed change of the name is due to the fact that the activities within the FNB Namibia Holdings Limited Group have expanded to a multi-branded approach.
“The current naming of the listed entity is likened to one brand, being the FNB brand and does not reflect the multi-branded structure of the group. The proposed name, FirstRand Namibia Limited is representative of a holding company for a multi-branded Group, including the FNB, RMB, WesBank and Ashburton brands,” the financial insttute said.
Meanwhile a circular, which is to provide FNB shareholders with relevant information relating to the change of name and to enable shareholders to consider and approve the proposed special resolution for the name change was distributed on 16 March.