Value created for Clicks Group employees through share programme
Fin24 - Feb 8th, 14:17
Over 7 800 of Clicks Group employees will share in a R1.5bn payment that has been created through the group's employee share ownership scheme (ESOP).
This is in addition to the R1.3bn already paid out under the scheme to beneficiaries in 2018.
Vikesh Ramsunder, CEO of Clicks Group, said in a statement this is the final payment of the remaining 50% of shares in the scheme.
"Participants have also received dividends totalling R39m over the course of the scheme, which is testimony to the consistent growth of the share price, the loyal support from our customers and the hard work and dedication of everyone across the business."
The Clicks share price has appreciated by over 360% since the scheme's commencement in 2011, according to the statement.
In June 2018 Clicks joined the JSE's top-40, and in November was recognised by the Sunday Times Top 100 Companies Awards as one of the top three performing shares on the JSE over the past 5 years.
The scheme has empowered over 5 800 current and 2 000 former employees to become shareholders in Clicks Group, with the majority of these beneficiaries owning shares for the very first time, he said.
About 86% of the beneficiaries of the scheme are black employees and 65% of them are female.
The employee share scheme was introduced in support of the group's transformation agenda, with the objectives to drive employee affiliation and retention of critical talent and to enable employees to share in the growth and success of the business.
Ramsunder explains that 10% of the group's issued shares at the time were placed in the Employee Share Ownership Trust to be allocated to all full-time permanent employees.
"Senior black employees, longer serving employees and pharmacists received a higher share allocation."
In February 2018, R1.3bn was paid to 7 839 beneficiaries, representing the gain on the first 50% of the shares allocated under the ESOP.
The group's CFO and trustee on the ESOP board, Michael Fleming, reported that "the remaining 50% of the shares allocated to beneficiaries were sold by means of an accelerated bookbuild on 6 February 2019 which was well supported by both international and local investors. The value of the 2018 and 2019 pay-outs will bring the average pay-out per beneficiary of the scheme to R355 000".Fin 24
Amazon strengthens ties with French food retailer Casino
24/04/2019 - 11:50
E-commerce giant Amazon and French retailer Casino are expanding their partnership, with Amazon installing pick-up lockers in Casino stores and more of the French company’s products to be available on Amazon.
Woolworths announces next phase in plastic bag free trial
24/04/2019 - 11:40
After a six-month trial in four of its Western Cape stores, including the launch of their first plastic bag free store, Woolworths confirms that it will be rolling out its new low-cost, reusable bag to more stores across the country as well as announcing three more ‘plastic shopping bag free’ stores.
Cheap imported butter is undercutting local brands
24/04/2019 - 11:31
South Africa has been a net importer of butter for years. In 2018, 85% of those imports came from as far afield as New Zealand, Denmark, Ireland, and the Ukraine.
Ackermans shines again at AskAfrika Kasi Star Brands Survey
24/04/2019 - 10:47
The 10th annual AskAfrika Kasi Star Brands Survey, which measures brand relevance across all segments of the demographic, has awarded leading value retailer Ackermans the top award in the Clothing Retail: Children’s category.
9 safety tips to help curb cash crimes in SA's stores
22/04/2019 - 10:03
Retailers must accept that cash crime is prevalent in SA and not going away any time soon, says Richard Phillips, joint CEO of retail cash management company Cash Connect.