SAB embarked on an aggressive black economic empowerment campaign during the 1980s in an effort to place a considerable portion of its business with black suppliers.
Retailer offer
SAB Zenzele demonstrates the company’s determination to set new standards in societal leadership and play its part in the ongoing normalisation of the South African liquor industry. The word Zenzele, which means, ‘do it (for) yourself’, epitomises the essence of what this transaction’s about—the unquenchable desire to achieve personal improvement and growth.”
Norman Adami, Chairman and Managing Director, SAB Ltd.
SAB believes that participation by black retailers and retail liquor licence applicants contribute towards creating genuine broad-based empowerment by improving the economic well-being and sustainability of retailers.
Representing 42% of the SAB shares issued under the transaction, 29,542 black shareholders in SAB Zenzele Holdings Limited now own 3.52% of SAB.
The SAB Zenzele retailer offer which closed on 28 April 2010 was open to qualifying black-owned beer and soft drink retailers. This included black-owned licensed liquor retailers, black-owned retailers who’ve lodged or materially completed a liquor licence application, and black-owned registered customers of ABI.
Highlights of the retailer offer
· There are 29,542 retailer shareholders in SAB Zenzele;
· Retailer shareholders hold a minimum of 317 SAB Zenzele shares each which equates to a value of approximately R50,000;
· No retailer shareholder holds more than 2,133 SAB Zenzele shares which equates to a value of approximately R337,000;
· 97% of the SAB Zenzele shares are held by black individuals, with 3% held by black-controlled groups;
· 40% of the SAB Zenzele shares are held by black women or groups controlled by black women; and
· 63% of the retailer shareholders hold the minimum number 317 SAB Zenzele shares.
A pool of 523,752 SAB Zenzele shares have been set aside for retail liquor licence applicants who were successful in their application of SAB Zenzele shares and who obtain a valid liquor licence within a three year period from the closing of the retailer offer, as outlined in the Prospectus.
SAB Zenzele Holdings Limited is a registered South African public company.
For more information call 0861 900 903
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