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Press statement, 20 July 2018

 

NUM signed a three year ESOP agreement with Anglo Platinum mine

 

 

After a fierce battle on the payment of employees shares, the National Union of Mineworkers (NUM) can confirm it has signed an Employee Share Option Scheme (ESOP) with Anglo Platinum mine.

 

The agreement was reached yesterday. The parties agreed on a total quantum of R24 000.

 

The agreement entered stipulate that the employees will be paid as follows:

 

2018                             2019                                                                     2020

R8 000 cash       R4 000 cash and share allocation worth R4.000      R4 000 cash and share allocation worth R4.000

                          Vesting allocation of shares 2021                          Vesting allocation of shares 2022

 

“Parties further agreed to engage after the signing or the promulgation of the mining charter 111. The payment of the ESOP is long overdue as the last payment was in 2014 and our members wanted this payment as early as January 2018”, said NUM Deputy General Secretary Makgabo William Mabapa.

 

The ESOP scheme emanated from the wage agreement of 2015 to 2018.

 

For more information, please contact

 

William Mabapa, NUM Deputy General Secretary, 082 880 4439

The National Union of Mineworkers

 

7 Rissik Street.

 

Cnr Frederick

 

Johannesburg

 

Tel: 011 377 2111

 

Web: www.num.org.za<http://www.num.org.za>

 

Twitter: @Num_Media

Facebook: https://www.facebook.com/pages/NUM/100860023402167