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BROAD-BASED BLACK ECONOMIC
EMPOWERMENT (BEE) STATUS |
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DIRECT
EQUITY OWNERSHIP
KHUTHELE SANMAC MULTI SERVICES
has committed itself to the
process of transformation and
the inclusion of people of
colour, through direct ownership
in the company. We are of the
opinion that real transformation
and empowerment will only be
effective once the inequalities
of the past have been addressed.
KHUTHELE SANMAC MULTI SERVICES
has therefore committed itself
to include people of colour as
direct shareholders in the
company. As stated in the
Broad-Based Black Economic
Empowerment Bill, we have taken
the step of extending the
opportunity to people of colour
to obtain a substantial share in
the company. Following the
guidelines of the BEE Bill, the
equity ownership will give the
BEE partner(s) a significant
interest within the company as
well as a substantial share in
the economic benefits derived by
the company.
In line with the guidelines set
out by the Department of Trade
and Industry, the company is a
qualified Broad-Based Economic
Empowerment (BEE) Company. The
SANMAC Employee Share Trust
ownes 26% of the shares within
the company, exceeding the
requirement of the BEE Act 0f
2003 of 25,01%
Realising that the policies of
the past excluded people of
colour to share fully in the
benefits of the economy of South
Africa, KHUTHELE SANMAC MULTI
SERVICES made the share in the
company available, with the
needed financial support, to
enable the BEE partner to obtain
a substantial shareholding
immediately. The shareholding
interest is a direct
shareholding with all rights and
responsibilities transferred
immediately and with the full
voting rights as determined by
The Companies Act. The BEE
partner plays an active role in
the Executive Management of the
company and was appointed an
Executive Director of the
company, sharing in the
benefits, meetings and
responsibilities that go along
with such an appointment.
During the last BEE Audit SANMAC
achieved a BEE score of 83.7%
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