Today's Labour News

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earningsBusiness Report writes that workers at JSE-listed retail healthcare group Clicks are set to receive a major windfall of R1.27bn after selling up to 7,642,904 Clicks Group ordinary shares at R166 a share.  

The Clicks Group Employee Share Ownership Trust (Esop Trust) disposed of the shares to unwind 50% of the scheme.  Only full-time Clicks employees were permitted to participate in the scheme, and entry into the scheme closed in 2015.  Shares are held by 6,814 employees, with black employees holding 87% of the shares and women 64%.  Pharmacists comprise 5% of the Esop beneficiaries.  Participating employees receive a cash dividend annually, equal to 10% of the total dividend paid to ordinary shareholders each year.  The group said the purpose of launching the scheme had been to attract and retain scarce and critical skills, accelerate transformation, build employee commitment and enable employees to share in the growth and success of the business.

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