Woolworths in R292m BEE employee deal

May 20, 2007

South African retailer Woolworths on Monday unveiled a black economic empowerment (BEE) deal, whereby Woolworths employees will acquire approximately 10% of the group's ordinary issued share capital...

Woolworths will create a new class of convertible, redeemable, non-cumulative participating preference shares with a value 15 cents each -- the Esos shares.

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