In the first step of the transaction, 15% of Nebula`s shareholding is to be put into a trust to which all employees belong, with another 5% distributed to management and key personnel, says CEO Danie Nel.
Fifty-five percent of Nebula staff members are black, qualifying the transaction as a BEE deal, he says.
Nel would not disclose the value of the 20% shareholding. However, he adds that 20 million shares have been authorised to be distributed to staff, and 9.8 million shares remain for further transactions.
He says the remaining shares will be distributed through a share option scheme, which is open to all staff members with immediate effect. Entry into the share option scheme will be linked to staff performance and meeting of specified goals, he says.
Staff members are also encouraged to use dividends from their initial shareholding to purchase more shares, Nel notes.
Nebula will also examine finance options to assist with the purchasing of shares; however, the best possible option would be if the company self-financed the transactions, he adds.
The move ensures Nebula staff members are empowered to grow with the company and benefit as it prospers. The offer is also likely to help the company to attract talent and retain it, Nel explains.
"The next level of growth for the company is focused on bringing in more black women in a business and consulting role."
The transaction also ensures Nebula complies with government`s criteria of ownership equity. The conclusion of the deal formalises Nebula`s rating and compliancy positioning in terms of ownership, Nel states.
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