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Stock impact report

Lesaka gets green light to launch Employee Share Ownership Plan [Yahoo! Finance]

Lesaka Technologies, Inc. (LSAK) 
Company Research Source: Yahoo! Finance
on and approved the funding and issuance of shares to the Lesaka ESOP Trust at its annual general meeting. Lincoln Mali, CEO Southern Africa, said “We are very proud of the launch of our broad-based employee share ownership plan. Lesaka has been on a far-reaching transformation journey and our employees becoming shareholders is a significant and an important milestone for us.” The Lesaka Employee Share Ownership Plan (“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 at the date of implementation, representing approximately R215 million at the current market price. This allocation of shares ensures that employees have a meaningful stake in Lesaka's future financial success and gives them the opportunity to share in the value created by Lesaka. “One of the distinctive aspects of the Lesaka ESOP is our commitment to shared ownership with a broad range of our employees. A Show less Read more
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