Capitec shareholders approve revised staff B-BBEE transaction
Owners of more than 82% of the total number of shares in issue vote in favour of the deal
Capitec shareholders overwhelmingly approved a revised broad-based BEE (B-BBEE) transaction for staff that will see the bank issue R1bn in new shares for purchase by qualifying permanent employees from previously disadvantaged backgrounds.
The Stellenbosch-based lender said on Tuesday that shareholders representing 99.9% of the total number of shares held by representatives present at a general meeting held that same day voted in favour of the revised B-BBEE deal. The shareholders who voted in favour of the deal represent more than 82% of the total number of Capitec shares in issue on the date of the general meeting...