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ARM is committed to the spirit and objectives of the Mineral and Petroleum Resources Development Act 28 of 2002, and the Broad-Based Socio-Economic Charter for the South African Mining and Minerals Industry (the Mining Charter). To this end, and for the benefit of historically disadvantaged South Africans (HDSAs), the Company created the ARM Broad-Based Economic Empowerment Trust (ARM BBEE Trust).
The beneficiaries of the ARM BBEE Trust include seven regional upliftment trusts, a womenís upliftment trust, union representatives, a church group and community leaders. The ARM BBEE Trust was restructured in April 2016 to provide a more permanent and sustainable funding solution for the trust.
The trust owns 15 897 412 ARM shares (30 June 2015: 28 614 740 ARM shares), which is equivalent to 7.29% of the ARM issued share capital at 30 June 2016. As part of the restructuring, the ARM BBEE Trust sold 12 717 328 ARM shares to a wholly owned subsidiary of ARM, which holds these shares as treasury shares.