KWV gives BEE the nod

RAY SMUTS
A WHOPPING 98,5% of KWV shareholders have voted in favour of empowerment, including granting a 25,1% shareholding to a black consortium.
The offer by empowerment consortium Phetogo for shareholders to each sell 25,1% of their shares (or more) at R1,85, closed on August 24. In
the event of the correct number of shares not being reached, KWV will issue the shortfall. The Phetogo consortium will purchase 18,33% of KWV and the KWV Worker’s Empowerment Trust 6,77% , for a total stake of 25,1% - for which a total of 112 million shares are required.