Guardforce in BEE deal

Guardforce International Transportation has implemented a Black Economic Empowerment (BEE) structure with immediate effect through a series of transactions. The first involves the transfer of the business previously conducted by Guardforce International Transportation Limited in South Africa to a new company known as Guardforce International Transportation South Africa.

It has also sold 25% plus 1 share in Guardforce South Africa to an Employee Share Incentive Trust  which has amongst its beneficiaries historically disadvantaged black persons. In addition it has issued and allotted shares in the company to selected employees who have satisfied certain eligible employment criteria in terms of the Trust.

There will be no change in the day to day operation of the business which will continue to operate without any change of personnel, method, or commitment to service, a spokesman said.