NOTICE IS HEREBY GIVEN THAT, under the powers
contained in the Debenture dated 25th April 2006 registered via a certificate
of registration of charge dated 25th April 2006 made by Tengeru
Flowers Limited (under Receivership) (hereinafter referred to as the “Company”)
in favor of TIB DEVELOPMENT BANK LIMITED (hereinafter referred to as the
“Bank”) and every other powers enabling me to do so, I, Frank Mwalongo the Receiver and Manager duly appointed by the Bank
on 21st August 2019 hereby advertise for sale of the properties
described in the table herein owned by the Company charged in favor of the
LOT NO. 1
LAND USE AND ECONOMIC
ADVANTAGES TO ACQURE THE
FARM NO. 165/1 ARUMERU DISTRICT, ARUSHA CT NO. 11515 IN THE NAME OF TENGERU
COMMERCIAL FARMING AND RESIDENTIAL
CHANGE OF LAND USE IS
v WATER IRRIGATION SYSTEM IN PLACE
v ADMINISTRATION BUIDLING
v FLOWER PROCESSING AREA HALL
v COLD ROOM
v FAVOURABLE FOR AMONG OTHERS GROWING FLOWERS AND ROSES
v WATER SUPPLY IS AVAILABLE
LOT NO. 2
DESCRIPTION OF GREEN
30 GREEN HOUSES
AVERAGE OF ONE ACRE PER
v GREEN HOUSES ARE MADE OF STEEL NOT WOOD
v WORKING GREEN HOUSES
LOT NO. 3
RUNNING HOURS TO DATE
VOLTAGE 8-38 VOLT, 3
Company borrowed from the Government of the United Republic of Tanzania through
TIB Development Bank Ltd as an agent for management of the facility.
Company has since defaulted in its obligation to repay the loans it owes when
they fell due and the Bank, on behalf of the Government and on its own right,
has placed the Company under receivership.
a recovery measure and acting under powers provided for in the Debenture Deed and
the law, the Bank, through me, now desires to sale the entire Properties and
apply the proceeds of the intended sale to liquidate the Company’s exposure to
the Government and the Bank.
INTERESTED BIDDERS ARE
to submit bids for the purchase of all or any of the named properties.
in sealed envelopes clearly marked BID
FOR THE PURCHASE OF TENGERU FLOWERS LIMITED PROPERTIES and indicating the
respective lot, including the offer for the purchase of the property with full
address of the bidder should be submitted so as to reach the undersigned on the
address below by Friday, 6th December 2019 at or before 10:00
Hours. Bids shall be opened on the said 6th
December 2019 at 11:00 hours at the office mentioned below. Bidders are invited
to attend during the event if they so wish.
bidders can inspect the Properties on working days from the date of this
publication from 9:00 am to 3:00 pm. Kindly contact the Receiver and Manager to
book visitation through the below mentioned mobile or telephone number or email.
successful bidder or otherwise shall be announced within a maximum of seven
are required to submit their physical address, email address and phone number.
A communication sent to bidders either to the physical address or the email
submitted shall be sufficient communication.
are required to submit banker’s cheques worth 20% of their respective bid offer
together with the bid documents. The 20%
of the bid price submitted via banker’s cheque during bidding shall constitute
down payment for successful bidder while for unsuccessful bidder the money will
balance of 80% shall be payable within 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 Receiver and
Manager shall forfeit any down payment and any other payment (if any), which
shall have already been made.
the event the successful bidder fails to effect payments as prescribed, the
Receiver and Manager reserve the right to offer the Properties to the next
highest or preferred bidder who meets the conditions, or cancel the sale
Receiver and Manager and the Bank shall not be bound to accept the highest bid
or any bid at all.
are advised to conduct their independent valuation and inspection of the
properties as all the information contained in this advertisement is free from
bids should be addressed to the address below;
Receiver and Manager - Tengeru Flowers Limited,
Apex Attorneys Advocates,
Tancot House, 3rd
Pamba Road/Sokoine Drive,
P. O. Box 34674,
TEL: + 255 22 21 52803
Mob: 0756 625 802