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Employee Share Ownership Our Journey

Employee Share Ownership Our Journey. Table of content. Who are we? Structure The trust Beneficiaries Rules Communication Unpacking what it is and what it is not Training and development Company Expectations Lessons Learnt. Optimum Coal Group Structure as at 13 July 2012.

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Employee Share Ownership Our Journey

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  1. Employee Share Ownership Our Journey

  2. Table of content • Who are we? • Structure • The trust • Beneficiaries • Rules • Communication • Unpacking what it is and what it is not • Training and development • Company Expectations • Lessons Learnt

  3. Optimum Coal Group Structure as at 13 July 2012 BEE /HDSA 61.18% Monkoe Coal Investments BBBEE Micsan Investments BBBEE Mobu Resources BBBEE Kwini Mining Investments BBBEE Employee Trust BBBEE Community Trust BBBEE Warrior Coal BBBEE Glencore International Public Shareholders 0.02% 5.28% 7.55% 2.26% 10.33% 9.93% 9.93% 15.9% 38.8% Optimum Coal Holdings Limited 100% 100% 100% 100% 100% 100% 51% 100% 100% 100% 100% Koornfontein Mines (Pty) Ltd Optimum Koornfontein Investments (Pty) Ltd Optimum Coal Mine (Pty) Ltd Optimum Coal Terminal (Pty) Ltd Optimum Coal Investments (Pty) Ltd Optimum Nekel Mining & Exploration (Pty) Ltd Optimum Vlakfontein Mining & Exploration (Pty) Ltd Optimum Mpefu Mining & Exploration (Pty) Ltd Optimum Coal Services (Pty) Ltd Optimum Overvaal Mining & Exploration (Pty) Ltd Optimum Platinum Resources (Pty) Ltd 100% 100% 100% 100% 100% 100% 100% 100% 100% Optimum Collieries 6.8M RBCT shares Shares in listed entities Nekel Project Vlakfontein Project Mpefu Project Group Services Overvaal Project Koornfontein Mines

  4. Composition of the Trust • The Trust owns 25 million shares in the Company • This equates to 9.93% ownership of OCH. • A total of 2 270 employees. • The Company nominates 2 trustees and employees elects 3 Trustees. • The trustees are guided by the trust deed. • All employees of the company are beneficiaries of the trust.

  5. Income of the Trust • The income of the Trust comes from dividend payments made by the Company. • Four payments since 2010. • The Trust Deed specifies the Benefits that Employees can get from the Trust • The benefits are: • 10% of income is held in a discretionary fund which the Trustees can use for the benefit of Employees. This money is used for hardship cases and Employees who require assistance (e.g. medical expenses beyond what the medical aid would cover) may apply • 90% of the income may be distributed to Employees. The intension of the Trust Deed was that half of this money should be paid directly to Employees whilst half should be paid on behalf of Employees into pension and provident funds so that adequate provision is made for retirement. However, the Trustees may decide how the 90% that must directly benefit Employees must be distributed.

  6. Lessons Learnt • Communication is critical • What the trust is and what it is not • Management of expectations • Responsibilities of trustees • Financial literacy is important • A plan to help shift mindsets • At all levels of the organisation. • Not a stand alone “initiative”, integration with other business systems and processes. • Employee participation and involvement • Giving a gift can be very difficult .

  7. Discussion

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