Three deals to help ful­fil BEE cred­its

The Star Early Edition - - COMPANIES -

PLAT­INUM pro­ducer Lon­min had com­pleted three deals to make up its re­main­ing 8 per­cent black eco­nomic em­pow­er­ment cred­its, it said yes­ter­day. Chief ex­ec­u­tive Ben Ma­gara wel­comed this mile­stone. “Our em­ploy­ees and host com­mu­ni­ties now have eq­uity share­hold­ing and a shared vested in­ter­est to see Lon­min suc­ceed for their own ben­e­fit and that of our share­hold­ers,” he said. The first trans­ac­tion in­volved a roy­alty-for-eq­uity swap with the Bapo Ba Mo­gale Tra­di­tional Com­mu­nity. Lon­min shares were un­changed at R31.65. – Sapa

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