The BEE groupings are Shanduka Resources, which will purchase an 11.76% equity interest in Assore and a community trust, which has been formed to benefit community groupings and which will purchase a 3.26% equity interest in Assore.
Shanduka Resources is a subsidiary of Shanduka, a black-owned and managed investment holding company founded by Cyril Ramaphosa, James Motlatsi and several other black professionals.
The BEE companies will buy the 15% in shares at R85 per Assore share, a 33% discount to market price for Assore shares of R127.