21 August 2013
The SMSA PDI Trust announces that it has adopted a performance based scheme designed to encourage and reward good workplace performance. This initiative will be funded by the establishment of the Previously Disadvantaged Individuals Employee Trust.
The Trust adopted the plan following a review by the board of directors and the corporate governance, with the assistance and guidance of its financial advisors, of the appropriateness of introducing the scheme as a long term incentive program for Stadium Management SA’s permanent employees. The aim of the trust is to provide previously disadvantaged employees with an opportunity to share in the capital gain of Stadium Management South Africa. The trust will have 5% profit sharing of SMSA. This trust has been specifically established for the employees of the company that fall within the scope of a previously disadvantaged individual and is there to promote nation building and social cohesion.
The long term incentive program’s official launch was hosted by Stadium Management South Africa with the City of Johannesburg’s Executive Director of Comdev, Ms. Dudu Maseko and Mr. Gladwin Khangale SMSA Managing Trustee in attendance. “By launching this long term incentive program the company is striving to improve the lives of its employees and the people around them by rewarding hard work and dedication” SMSA CEO Mr. Jacques Grobbelaar.