NOTICE IS HEREBY GIVEN TO THE PUBLIC THAT, under the powers contained in the Mortgage Deed Dated 28h 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 issued/created by Coast Millers Limited in favour of NMB BANK PUBLIC LIMITED COMPANY (hereinafter referred to as the “Bank”) and every other powers enabling the Bank to do so, We, SENI SONGWE MALIMI of K & M (ADVOCATES) and JOSEPH SYLIVESTER NDAZI of BRICK HOUSE LAW ASSOCIATES, (hereinafter referred to as the “Receivers and Managers thereof”) duly so appointed by the Bank hereby advertise for sale of the said Charged Assets described herein below owned by the said Mortgagor and charged in favour of the Bank.

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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, the possession of the said Company’s Charged Assets has already been vested with us.

The General Public is hereby informed that the Company’s Charged Assets as defined  herein above are being offered for sale on “as where they are basis”. Interested buyers are advised to contact the Receivers and Managers through the contacts provided herein below so that they can book appointment for inspection and verification of the Charged

Assets being sold and to enable them make informed decision when proposing their bids/ offers for purchasing such Assets.

Interested bidders are invited to submit bids for the purchase of the said Charged Assets on “as where they are basis”. Bids in sealed envelopes clearly marked BID FOR THE PURCHASE OF CHARGED ASSETS ON PLOT NO. 65, BLOCK ‘A’, MANDELA EXPRESS HIGHWAY, TABATA INDUSTRIAL AREA, ILALA MUNICIPALITY, DAR ES SALAAM REGISTERED UNDER CERTIFICATE OF RIGHT OF OCCUPANCY NO. 34733, indicating the offer for the purchase of the Charged Assets with full address of the bidder should be submitted so as to reach the undersigned on the address below by Friday, 9*June, 2023 at or before 3:00 p. m. Bids shall be opened on the said Friday, 9 June, 2023 at 3.30 p.m at the office mentioned below. Bidders are invited to attend during the opening event if they so wish.

Interested bidders can inspect the Charged Assets on working days from the date of this publication from 9: 00 am to 4:00 pm. Kindly contact the Receivers and Managers to book for visitation through the below mentioned mobile telephone number or email addresses.

The bid documents must contain the following details:

(a) If the bidder is an individual person he/she must attach his/her certified identity card which must be National Identity card issued by NIDA for Tanzanian citizens and Passport for non-Tanzanian citizens and must be signed by the Bidder.

(b)If the bidder is a body corporate by a duly authorized agent or officer(s). If the bidder is a body corporate, a certified copy of the incorporation documents, their latest statutory Annual Returns filed and accepted at the Companies Registry (BRELA) and the Board Resolution authorizing such a body to bid, the bid amount and officers authorized to sign the bid documents and represent the body in negotiations/consultations. The person(s) signing the bid must show his/their official title in the bidding entity. Unsigned bids will be rejected.

(c)Bidder’s full name, postal and physical address, email address and phone number. A communication sent to bidders either to the postal, physical address or the email submitted shall be sufficient communication.

(d) The bid/offer amount, in Tanzania Shillings or United Sates of America Dollars, of the bidder’s offer price to purchase Charged Assets being sold hereunder.

Bidders are required to submit banker’s cheque worth 25% of the bid offer together with the bid documents. The banker’s cheque should be addressed to NMB Bank Public Limited Company. The 25% of the bid offer submitted via banker’s cheque during bidding shall constitute down payment for successful bidder while for unsuccessful bidder the money/ cheque will be refunded.

The balance of 75% shall be payable within thirty (30) days from the date of notification of award. Failure to pay the agreed price within the prescribed time the offer shall be revoked forthwith. In such event of revocation, the Receivers and Managers shall forfeit any down payment and any other payment (if any) which shall have already been made.

The successful bidder or otherwise will be informed within fourteen (14) days from the date of opening of the bids.

In the event the successful bidder fails to effect payments as prescribed, the Receivers and Managers reserve the right to offer the Charged Assets to the next highest or preferred bidder who meets the conditions, or cancel the sale process altogether.

The Receivers and Managers shall not be bound to accept the highest bid or any bid at all.

Bidders are advised to conduct their independent valuation and inspection, verification and or valuations of the Charged Assets being offered for sale at their own costs as all the information contained in this advertisement is free from any liability.

All bids and or clarifications should be addressed to the address below:

ISSUED FOR JOINT RECEIVERS AND MANAGERS BY:

SENI SONGWE MALIMI,

3RD FLOOR, TAC ASSOCIATES BUILDING,

PLOT NO. 114, MALIK STREET, UPANGA,

P. O. BOX 71394, DAR ES SALAAM.

TEL:+255754224935/+255754315008

Email: malimi@kmadvocates.co.tz