TON
THGL
TON - Tongaat Hulett: B-BBEE Level 2 Contributor
Tongaat Hulett Limited
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: B-BBEE LEVEL 2 CONTRIBUTOR
Tongaat Hulett announced the achievement of an important milestone in the area
of transformation when it was confirmed that the company had attained a Level
2 contributor status in terms of the Broad Based Black Economic Empowerment (B-
BBEE) Codes of Good Practice. This status will ensure that Tongaat Hulett
customers are able to claim 156% (Level 2 weighting of 125% x 1,25% for
achieving a value adding status as a company) of spend with the company
towards their own empowerment rating.
Commenting on the achievement, CEO, Peter Staude said, "I am particularly
pleased that after a number of years of high scoring in the areas of Equity
Ownership, Management Control, Employment Equity, Enterprise Development and
Socio-Economic Development we have significantly improved in the areas of
Skills Development and Preferential Procurement."
AQRate (KZN) Verification Agency CEO, Linda Ngcobo said, "I would like to take
this opportunity to congratulate Peter Staude and the Tongaat Hulett team on
achieving this milestone especially in light of the fact that so few JSE
listed companies have attained the Level 2 contributor status."
Peter Staude concludes, "Tongaat Hulett is committed to the principles
enshrined in the Codes of Good Practice and we will continue to identify other
areas of improvement that will further facilitate the company`s contribution
towards the transformation of South Africa."
Tongaat
17 December 2010
Sponsor
INVESTEC BANK LIMITED
Date: 17/12/2010 10:13:01 Produced by the JSE SENS Department.
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