South African Van der Walt brothers’ AttBid secures final approvals for $34 million RMH takeover

AttBid Proprietary Limited, controlled by South African entrepreneurs Faan and Dirk van der Walt, has secured all remaining regulatory clearances required for its mandatory offer to acquire shares in RMB Holdings (RMH), clearing the path for the transaction to proceed to full completion.

The company confirmed on May 19, 2026, that it has received a compliance certificate from South Africa’s Takeover Regulation Panel, following earlier approval from the Competition Tribunal. With these approvals secured, the offer has become unconditional and is now set for final execution.

Final execution phase begins

The mandatory offer, first announced in February 2026 and later detailed in a shareholder circular issued in April, enables AttBid to acquire all remaining RMH ordinary shares not already held by concert parties or excluded treasury holdings.

With regulatory conditions satisfied, the transaction has entered its final phase, with only a limited window remaining for shareholders to accept the offer under the original timetable.

RMH shareholders who accepted the offer by May 15, 2026, are scheduled to receive payment on May 22, which also serves as the initial settlement date. For remaining investors, the final deadline to accept the offer is 12:00 p.m. on May 29, 2026, unless extended.

Key transaction milestones

The timetable for the remaining steps of the offer sets May 22, 2026, as the date for the first payment and settlement for early acceptances, while May 26, 2026, marks the last day for investors to trade RMH shares in order to qualify for the offer. 

RMH shares are scheduled to begin trading ex-offer on May 27, 2026, followed by the record date and final closing deadline for acceptances on May 29, 2026.  The announcement of offer results, along with final settlement updates, is expected on June 1, 2026. Shareholders who do not accept the offer before the deadline will no longer be eligible to receive the offer consideration.

Deal nearing completion

All remaining payments are expected to be processed within six business days of valid acceptance and confirmation of regulatory compliance.

With all approvals now in place, AttBid’s mandatory offer for RMH is effectively in its final execution stage, leaving shareholders with a narrowing window to participate before the transaction formally closes.