Lesaka shareholders approve our ESOP!
This is really BIG news! In a few months’ time, Lesaka employees will become shareholders in our company.
If you didn’t manage to attend the ESOP Town Hall on 21st November, please take the time to watch the recap video. Norma, Zwe and Lincoln go through what the ESOP means for you and the meaningful impact it could have on many of your lives. Ali also shares his thoughts on the vision for Lesaka and the large opportunity that lies ahead for all of us.
We also have a FAQ section on the Hub that you can refer to for answers to queries you may have, and you can always email ESOP@lesakatech.com for answers you can’t find elsewhere.
The ESOP is designed to create alignment with the company's long-term growth objectives. The Lesaka ESOP Trust will hold an effective 3% of Lesaka’s issued shares, representing approximately R215 million at the current market price, ensuring that employees have a meaningful stake in the company’s future financial success and providing an opportunity to share in the value created by Lesaka.
Qualifying employees will become beneficiaries of the Lesaka ESOP Trust and be entitled to receive:
A distinctive aspect of the ESOP is our commitment to shared ownership with a broad range of our employees. At inception, all qualifying employees, regardless of seniority, salary, race, or gender, will receive equal benefits from the plan. We believe that this approach will ensure that our employees, from entry-level to management, have a meaningful opportunity to benefit from the company’s growth and success in line with our values.
A “qualifying employee” is defined as a permanent employee of any Lesaka Group company as at 31 December 2024 who:
The ESOP also forms an important part of our BBBEE initiative. With Lesaka’s high proportion of designated groups amongst its employees and the equality on the structure, the ESOP forms an important element of our transformation and will improve our BBBEE rating.
You don’t need to do anything right now. During January 2025 we will be hard at work determining the employees who qualify per the criteria above. Then, in February 2025 there will be a roadshow across the country where employees will be able to discuss the ESOP with management and have any unanswered questions addressed. During March 2025, qualifying employees will receive letters of notification and allocation and officially become beneficiaries of the Lesaka ESOP Trust!
If you have any questions, please don’t hesitate to send an email to ESOP@lesakatech.com
If you didn’t manage to attend the ESOP Town Hall on 21st November, please take the time to watch the recap video. Norma, Zwe and Lincoln go through what the ESOP means for you and the meaningful impact it could have on many of your lives. Ali also shares his thoughts on the vision for Lesaka and the large opportunity that lies ahead for all of us.
We also have a FAQ section on the Hub that you can refer to for answers to queries you may have, and you can always email ESOP@lesakatech.com for answers you can’t find elsewhere.
The ESOP is designed to create alignment with the company's long-term growth objectives. The Lesaka ESOP Trust will hold an effective 3% of Lesaka’s issued shares, representing approximately R215 million at the current market price, ensuring that employees have a meaningful stake in the company’s future financial success and providing an opportunity to share in the value created by Lesaka.
Qualifying employees will become beneficiaries of the Lesaka ESOP Trust and be entitled to receive:
- a share in dividends paid by Lesaka, and
- a potential cash or share distribution in seven years’ time, the size of which will be dependent on the performance of the Lesaka share price
A distinctive aspect of the ESOP is our commitment to shared ownership with a broad range of our employees. At inception, all qualifying employees, regardless of seniority, salary, race, or gender, will receive equal benefits from the plan. We believe that this approach will ensure that our employees, from entry-level to management, have a meaningful opportunity to benefit from the company’s growth and success in line with our values.
A “qualifying employee” is defined as a permanent employee of any Lesaka Group company as at 31 December 2024 who:
- is based in South Africa, and
- is a South African citizen, or has a right to work in South Africa, and
- has completed 2 years of employment, and
- is not part of Group Executive or Senior Management teams.
The ESOP also forms an important part of our BBBEE initiative. With Lesaka’s high proportion of designated groups amongst its employees and the equality on the structure, the ESOP forms an important element of our transformation and will improve our BBBEE rating.
You don’t need to do anything right now. During January 2025 we will be hard at work determining the employees who qualify per the criteria above. Then, in February 2025 there will be a roadshow across the country where employees will be able to discuss the ESOP with management and have any unanswered questions addressed. During March 2025, qualifying employees will receive letters of notification and allocation and officially become beneficiaries of the Lesaka ESOP Trust!
If you have any questions, please don’t hesitate to send an email to ESOP@lesakatech.com
