What Capitec hopes its BEE deal will accomplish



All right. Just a breakdown of the employees that are invited to participate? Is this a across the leadership line – as even management, black management, is able to participate, perhaps junior management and junior black workers, or is there a cut-off in terms of the seniority of the employee? Firstly, we have been ……3:58 average of the market on the day that we issue on the Sens, which will be towards the end of February. Then whatever that price is, 50% of that will be a discount that will go through our income statement. The other 50% will give the employees a loan at repo-plus-1%, which is obviously better than even the best company in South African can lend money at.

Sure. And then what happens if an employee who signs up for the deal today happens to leave the company within the five-year lockup period of the shares that will be issued?

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