Kaya Biz: Old Mutual plans a R 2.8bn BEE scheme to boost black ownership
Kaya 959 Reporter Old Mutual has introduced an R2.8 billion Bula Tsela broad-based black economic empowerment ownership scheme to its employees and the general public, bringing its BBBEE ownership to more than 30%. The transaction will be completed by issuing 205.3 million new Old Mutual ordinary shares for cash, representing about 4.36 per cent of the company's share capital. The group and its businesses will provide both nominal and actual […]