SA Breweries to launch new B-BBEE scheme, opening up opportunity for R5.4bn stake in AB InBev
Beermaker South African Breweries (SAB) has announced that its broad-based black economic empowerment (B-BBEE) scheme SAB Zenzele, will be replaced by the new 'Zenzele Kabili', once it reaches maturity in May.
SAB Zenzele, which was launched in 2010, will have reached a maturation value of R9.7 billion in May, and shareholders who invested R100 at the scheme’s inception, will receive a R77 518 pre-tax pay out when it unwinds next month.
The new scheme will give taverners, bottle store owners, retailers and SAB employees an opportunity to own stakes in the world's largest beermaker.
“The company is offering SAB Zenzele Retailer Shareholders the opportunity to reinvest a portion of their remaining proceeds into a replacement B-BBEE ownership transaction through the SAB Zenzele Kabili scheme that will own R5.4 billion worth of AB InBev Shares,” said SAB in a statement.
Zenzele Kabili shareholders will collectively own R5.4 billion of the beermaker’s Belgium based parent, AB InBev and will be listed on the JSE’s B-BBEE segment to open up ownership to other B-BBEE investors including SAB employees.
SAB said the old scheme was meant to unwind in March 2020 but had been delayed by Covid-19 restrictions, that resulted in the company not being able to hold its shareholder scheme meeting. However, the company decided that each Zenzele retailer shareholder would receive a pay-out that amounted to 77.4% of the calculation of their right and entitlement from the unwinding, in April 2020.
In an address to shareholders, Zenzele chairperson Penuell Maduna said the new scheme, Zenzele Kabili, will allow shareholders who reinvest to receive 25% in annual dividends and not have to wait for a pay-out after 10 years.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
