COAST MILLERS LIMITED (UNDER RECEIVERSHIP)
NOTICE OF APPOINTMENT OF JOINT RECEIVERS AND MANAGERS AND INVITATION OF BIDS/OFFERS TO PURCHASE THE CHARGED ASSETS OF COAST MILLERS LIMITED
RE – ADVERTISMENT
A. Notice is hereby given to the General Public that We, SENI SONGWE MALIMI of K & M (ADVOCATES) and JOSEPH SYLIVESTER NDAZI of BRICK HOUSE LAW ASSOCIATES were on 24th June, 2020 appointed by NMB Bank Public Limited Company (hereinafter referred to as “The Debenture and Mortgage Holder”) to be Receivers and Managers of Coast Millers Limited (hereinafter referred to as “The Company”) pursuant to a MORTGAGE DEED DATED 28th MAY 2014 OVER TITLE DEED NO. 34733, LAND OFFICE NO. 101422, PLOT NO. 65, BLOCK ‘A’, MANDELA EXPRESS HIGHWAY, TABATA INDUSTRIAL AREA, ILALA MUNICIPALITY, DAR ES SALAAM (hereinafter referred to as “the Mortgage”) AND DEBENTURE DEED DATED 28TH MAY, 2014 (hereinafter referred to as “the Debenture”) both created by COAST MILLERS LIMITED in favour of NMB BANK PUBLIC LIMITED COMPANY.
B. Pursuant to specific instructions given to us by the Mortgage and Debenture Holder and in exercise of powers derived from the said Mortgage and Debenture Deeds as well as the Companies Act Cap 212 R. E. 2002 and the Land Act (Act No. 4) of 1999 and Amendments made thereto respectively, we took over all the properties charged under the said Mortgage and Debenture Deeds. (“Charged Assets”). We took over the physical possession of the Charged Assets effective from 9th July, 2019. Consequent to that, possession of the said Company’s Charged Assets has been vested with us since then.
C. The General Public was informed about the said receivership through Public Notices which were advertised on the Mwananchi and the Guardian newspapers of 10th July, 2020: The East African newspaper of 11th — 17th July, 2020; and the Daily News newspaper on 13th July, 2020; where the public was also invited to submit offers. bids for purchasing the said Charged Assets.
D. The General Public is hereby informed that the Company’s Charged Assets as defined herein above are still being offered for sale. Interested buyers are advised to contact the Receivers and Managers through the contacts provided herein below so that they can obtain Information Memorandum on Charged Assets being sold and make informed decision when proposing their bids /offers.
E. Bids/ offers for purchasing the Charged Assets should be submitted at the address provided herein below not later than Friday 7th May, 2021 at 3.00 p.m.
ISSUED FOR JOINT RECEIVERS AND MANAGERS BY:
SENI SONGWE MALIN,
3rd FLOOR, TAC ASSOCIATES BUILDING,
PLOT NO. 114, MALIK STREET, UPANGA,
P. O. BOX 71394, DAR ES SALAAM.
TEL: +255 754 224 935/+255 754 315 008
Email: [email protected]
