Omnia Holdings Limited
Omnia Holdings is listed on the JSE Limited in the chemicals sector under the share code (OMN). At 31 March 2017, 68 293 352 shares (including 1045 385 treasury shares) were in issue with a market capitalisation of around R12.2 billion. Omnia Holdings' wholly-owned subsidiary, Omnia Group Investments holds an 86.5% effective interest in Omnia Group (Pty) Ltd, the entity through which the Agriculture, Mining and Chemicals divisions operate.
Our other shareholders in the Omnia Group are Sakhile Initiative 1 and Sakhile Initiative 2. These entities are majority owned by black employees and black management, with an emphasis on black economic empowerment. Collectively, Sakhile 1 and Sakhile 2 owns 13.5% of Omnia Group (Pty) Limited.
Omnia Group Investments Limited
Omnia Group Investments was established in 1964 as an investment holding company. The company effectively owns 86.5% of Omnia Group (Pty) Limited that holds the operating divisions of Agriculture, Mining and Chemicals.
Sakhile Initiative Limited (Sakhile 1)
Sakhile 1 was established on 1 April 2007 as a broad-based black economic empowerment (BBBEE) vehicle. Shares in Sakhile 1 are owned by 2 096 Omnia permanent employees residing in South Africa, who are not part of other management incentive schemes. Sakhile owns 10% of Omnia Group (Pty) Limited. The Sakhile 1 shares will be converted into Omnia shares in three equal tranches in 2019, 2020 and 2021 when Omnia exercises its call option in year 2019 based on the value of the Sakhile 1 investment in Omnia Group (Pty) Limited. The Sakhile 1 shareholders are entitled to 100% of their shares after eight years’ service from the date of allocation, provided that they have been working for the Omnia Group during that period.
Sakhile Initiative 2 Limited (Sakhile 2)
The second phase of the BBBEE employee share scheme was launched during 2010 and implemented through a company called Sakhile 2. Sakhile 2 is an incentive vehicle used to attract, retain, develop and reward talented and key black permanent employees and black executives who are based in South Africa. The incentive scheme terminates on the seventh anniversary of each of the three tranches of shares issued to the 140 participants from January 2017 onwards. The benefits are paid out to participants by issuing Omnia Holdings Limited shares. The value of the Sakhile 2 share is calculated based on the underlying value of Omnia Group (Pty) Ltd. The price of a Sakhile 2 share does not bear any reference to the Omnia Holdings Limited share price as per the JSE.