Distell’s share trust pays BEE shareholders more than half a billion rand

Distell’s black economic empowerment (BEE) deal – signed in 2005 – has paid out in excess of R600m after tax to about 4,000 employees as part of the company’s employee share ownership plan (ESOP,) culminating in an important milestone on the JSE-listed wine and spirits producers’ transformation journey.

The share value windfall was included in the employees’ February remuneration.

“This is a proud moment for all of us at Distell. The continuing success of Distell is down to the loyalty, commitment and sheer hard work of our employees and it is pleasing that such a broad group of employees have benefitted directly from the value that has been created since the signing of the BEE transaction,” said Distell Managing Director, Richard Rushton.

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