Current and future employees are a critical component of the Group’s transformation strategy. By reserving a significant portion of shares for the benefit of current and future black managers and employees, the Group Transactions will assist in transforming and creating a dynamic, effective workforce.

To this end, each of the Group Transactions incorporates a broad-based component which allows for an award of shares to the value of R7 500 to employees who have not participated in any other employee and management share scheme of the Group.

The employee and management schemes also provide the Group with sufficient resources to meet the ongoing employment equity targets of the FSC.