TRANSFORMATION

Vital Distribution Solutions Empowerment Partners

In April 2005 the shareholders of Vital Distribution Solutions concluded two empowerment transactions through the sale of 25,2% of the Company:

Zikhuliseni Rhafu Development Trust – 10,2%
The Zikhuliseni Rhafu Development Trust is a broad based trust established to benefit the people of the Eastern Cape

Clidet No 808 (Pty) Ltd – 15%
Clidet is owned by Dr Zulile Maqetuka, a prominent South African businessman.  Dr Maqetuka is actively involved in the strategic management of Vital Distribution Solutions.

Excellerate is committed to the transformation of the South African business community and has solid Black economic empowerment credentials and strategies in place.  In May 2006, Excellerate announced its first BEE transaction with Akenton Services, a Black-owned business led by entrepreneurs Nhlanhla Chocho, Zanele Nyoka, Khomotso Mthimunye, Ciko Thomas and Lita Nkombisa.  The acquisition of up to 25% in the operative subsidiaries of the group, through Excellerate Investment Holdings, became effective in February 2007.  This empowerment flows to Vital Distribution Solutions by virtue of the shareholding of Excellerate.