Nala Empowerment Investment Company
In line with Peregrine Group’s sincere attempt to progress transformation, Nala was established to be a sustainable Broad-Based Black Investment company. 70% of the shares in Nala are owned cumulatively by three BEE Trusts, being the Peregrine Educational Trust (35%), the Peregrine Community Development Trust (15%) and the Peregrine Employee Portfolio Investment Trust (20%).
These trusts have been established to promote the advancement of disadvantaged individuals through education, to aid in community development and to benefit Peregrine’s black staff (excluding directors). The remaining 30% of Nala is owned by Peregrine Holdings Limited. Nala acquired a 20% shareholding in Peregrine SA Holdings, which owns the South African operating subsidiaries, including Citadel, Peregrine Capital and Peregrine Securities, the remaining 80% being held by Peregrine Holdings Limited.
This allows Peregrine to focus its transformation efforts in the South African operations of the Group.
This was brought about by Nala exchanging its 12.5% stake in the JSE-listed shares of Peregrine Holdings Limited for a 20% stake in Peregrine SA Holdings Proprietary Limited, the South African operating subsidiary of Peregrine Holdings Limited.
This direct holding into an unlisted holding company of the South African operations will, over time, enable Nala to participate in the cash flow of the business. Nala can and will pursue other investment opportunities.
In this regard, Nala owns 8.3% of the issued shares of Consolidated Infrastructure Limited, which investment has been funded through the Standard Bank of South Africa Limited. Consolidated Infrastructure Limited, through its power subsidiary Conco, is the largest turnkey developer and installer of high-voltage electrical substations and overhead cables in sub-Sahara Africa.
To view our Black Ownership Verification Certificate please click here