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News PPC Employee Share Ownership Trust to increase stake in PPC South Africa Holdings by 10%

PPC Employee Share Ownership Trust to increase stake in PPC South Africa Holdings by 10%

Written by Global Cement staff 07 August 2023
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South Africa: PPC South Africa Holdings says that it has concluded a deal to sell 10% of its shares to employees via the PPC Employee Share Ownership Trust. News24 Online News has reported that all South African employees of the company will be eligible to buy shares, provided that they are not already currently participating in its long-term incentive programme. The total value of shares transferred under the deal will be US$20.4m

CEO Roland van Wijnen said "PPC has been built upon the shoulders of its employees, and this transaction provides a meaningful way of rewarding those in South Africa who do not participate in PPC’s long-term incentive plan to share in the creation of shareholder value. We are pleased that the terms of the transaction are such that it stands to benefit employees for many years to come.”

Last modified on 09 August 2023
Published in Global Cement News
Tagged under
  • South Africa
  • PPC
  • PPC Employee Share Ownership Trust
  • Stake
  • Shares
  • shareholders
  • incentives
  • Staff
  • GCW620
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