Bank Windhoek Holdings wants to change its name to Capricorn Investment, and has asked shareholders to consider and approve the name change proposal.
Currently Bank Windhoek Holdings is the investment holding company that wholly owns Bank Windhoek, Welwitschia Insurance Brokers and Namib Bou. It also owns 29.45 per cent of Sanlam Namibia Holdings and 28 per cent of Santam Namibia.
In a statement from the sponsoring brokers on the local bourse, PSG Wealth Management, the board of Bank Windhoek Holdings is of the view that the name of Bank Windhoek Holdings be changed to Capricorn Investment Group Limited.
“The rationale and reason for the proposed change of name is to better reflect the underlying businesses and investments of Bank Windhoek Holdings going forward,” said the statement to shareholders who are expected to consider and approve the proposed special resolution for the name change.
Furthermore, the board wants to change the name because it is of the opinion that the current name of Bank Windhoek Holdings Limited “may be restrictive and misleading as Bank Windhoek Holdings holds a number of other investments besides Bank Windhoek”.
The proposed name of Capricorn Investment Group Limited, the board says, would align the name of the company – that is now called Bank Windhoek Holdings – with the name of the company’s ultimate holding entity, which is called Capricorn Investment Holdings Limited.