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PRESS RELEASE - AON
(LESOTHO) EMPLOYEE SHARE OWNERSHIP SCHEME PRIVATISATION UNIT 2nd Floor Lesotho Bank Mortgage Division Bldg. Private Bag A249 Maseru.100 Contact: Makalo Ntšasa Tel:317902 Fax:317551 Email:mntsasa@adelfang.co.za For immediate Release Thursday, 19th April, 2002 AON (LESOTHO) EMPLOYEE SHARE OWNERSHIP SCHEME 1. AON (Lesotho), formerly called Minet Kingsway (Pty) Ltd, formally launched an Employee Share Ownership Scheme for its employees in fulfillment of the Sale of Shares Agreement between the Government of Lesotho and AON Holdings BV on 18th April, 2002. 2. Upon privatisation of Lesotho Bank, AON (Lesotho) bought 31% shareholding which was held by Lesotho Bank in Minet Kingsway. This 31% shareholding was inclusive of 10% which was to be reserved for Employee Share Ownership Scheme. 3. In terms of Clause 11 of the Sale of Shares Agreement, AON undertook to set aside 10% of the issued shares held by the Company for purposes of the Employee Share Ownership Plan for its Basotho employees. 4. The objective of the Employee Share Ownership Scheme is to extend the benefits of privatisation by affording its Basotho employees an opportunity to become part-owners of the Company. The other benefits include having representation in the board of the Company, earning additional income through dividends and promoting the continued growth of the company. 5. The Government of Lesotho was represented by the Ministry of Finance and the Privatisation Unit while AON was represented by its Board members and the management team. MORERO OA KARORELO EA
LIABO TSA KHAMPHANI EA AON (LESOTHO) HO BASEBETSI |
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