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BROAD BASED BLACK ECONOMIC EMPOWERMENT

BBBEE

The Group believes that BBBEE is a social, political and economic imperative. Kaap Agri measures its BBBEE status against the AgriBEE scorecard criteria as set by the Department of Trade and Industry.

In terms of the latest assessment of Kaap Agri’s BBBEE status, performed during February 2016, Kaap Agri obtained a score of 75.12, thereby increasing its contributor status to level 3.

In terms of equity, ownership Kaap Agri’s black shareholding is currently more than 25%.

It should be noted that the Codes of Good Conduct are currently in the process of being amended by the Department of Trade and Industry and when it becomes effective, the manner in which the Group’s BBBEE status will be calculated, will change significantly. If these changes come into effect before the end of September 2016, it will materially affect Kaap Agri’s BBBEE status when the next assessment for the current financial year is done.

We see transformation as an opportunity for continued growth and development

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