In another twist involving the public protector’s office‚ the Minister of Co-operative Governance an.
An empowerment deal in which electronics giant Reunert has allocated R465million in shares to four people has been labelled "uncontrollable greed and gluttony" by the National Union of Metalworkers (Numsa).
The union is threatening protest action by its members.
According to media reports, Reunert has transferred 2,8percent of its shares to four business women - Cheryl Carolus, Wendy Lucas-Bull, Dolly Mokgatle and Thandi Orleyn, all shareholders of empowerment investment company Peotona.
The four must pay for the shares over 11 years.
Carolus's shares are worth R135million at current value. Mokgatle and Orleyn each get shares worth R130million and Lucas-Bull gets shares worth R70million.
Numsa said yesterday: "We want to see disempowered workers getting a fair share in this transaction rather than distributing [shares] to the filthy-rich.
"Numsa is strongly calling on Reunert's chief executive, Boel Pretorius, to intervene." - Sapa
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