| Thu 24 Apr 2008, 16:41 | | GMB - Glenrand M?I?B Limited - Level three AA cont |
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GMB
GMB
GMB - Glenrand M?I?B Limited - Level three "AA" contributor BEE rating
GLENRAND M?I?B LIMITED
(a Licenced Financial Services Provider)
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share code: GMB ISIN: ZAE000078010
("Glenrand M?I?B" or "the Company")
Level Three "AA" Contributor BEE Rating
Glenrand MIB Limited, a leading provider of insurance broking and risk
consulting services has received an "AA" rating on its B-BBEE scorecard from
Empowerdex, a leading economic empowerment rating agency.
This is an improvement on last year`s "A" rating and makes the company a Level 3
Contributor (previously Level 4).
The "AA" rating reflects the company`s generic scorecard score, measured in
terms of the broad-based BEE Codes of Good Practice, which the rating agencies
are obliged to use when measuring B-BBEE compliance.
Andrew Chislett, CEO, commented,"We are delighted with the outcome of this
revised rating. The improvement achieved over the past year is a reflection of
Glenrand MIB`s commitment to transformation and social responsibility. Although
this is one of the highest ratings in the industry, we are aiming to reach
beyond mere compliance and we will continue to work towards further
transformation of our company."
In terms of the new rating criteria, Glenrand MIB is recognised as a Value Added
Enterprise, which entitles clients to claim their procurement spend with
Glenrand MIB at an enhanced procurement recognition level of 137.5% instead of
the standard AA level of 110%.
Glenrand MIB received their initial "A" black empowerment credentials in 2006,
following the conclusion of a black economic ownership transaction during the
previous financial year. The management team, however, continues in its efforts
to transform the company into an industry leading, black empowered business,
with investment in skills development such as learnerships, graduate
development, coaching and mentoring and a management development programme for
our own future emerging leaders.
ENQUIRIES:
Glenrand M.I.B
Andrew Chislett 011 329 1111
College Hill 011 447 3030
Hayley Crane 072 758 1677
Note to Editors:
About Glenrand MIB
Glenrand M.I.B Limited (www.glenrandmib.co.za) is a leading provider of
insurance broking and risk consulting services to a range of South African and
international clients. Its core business is focused on an extensive risk
advisory capability for corporates, commercial ventures and individuals through
innovative combinations of conventional short-term cover and tailored risk
solutions.
Date: 24/04/2008 16:41:01 Produced by the JSE SENS Department.
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