Examples of Employee Trusts in a sentence
The SBA also administers several special purpose loan guaranty programs that address particular business needs, including the International Trade Loan Program, Export Working Capital Program, the Community Adjustment and Investment Program (CAIP), CAPLines Program, Employee Trusts Program, and Pollution Control Program.
Tax-Exempt Investors, including Employee Trusts and Individual Retirement Accounts ("IRAs"), are generally exempt from federal income taxation.
Consequently, any such acquired property may be deemed to be "debt-financed property." In such event, net income and gain from any such property may constitute unrelated business taxable income, although Employee Trusts (but not most other tax-exempt organizations, including IRAs) may nevertheless qualify for an exception, found in Code Section 514(c)(9), which would exempt them from taxation on such net income in the case of the real property.
C1 C B A Category (I)Shares underlying DRsNon -Promoter Non -Public PublicPromoter & Promoter Group Category of shareholder (II) - -64 | P a g e C2 Category (I) TotalShares held by Employee Trusts Category of shareholder (II)7 - Nos.
The schemes may, as described above, be operated in conjunction with one or more Employee Trusts.
During the initial stages, the NEF warehoused the shares intended to benefit Active Black Enterprises, Investor Black Enterprises, Employee Trusts, and the Education Trust which will benefit approximately 120 people.The project aims to achieve a minimum of 66% average local content.
Sasol is authorised in terms of its Articles to repurchase its own shares.Any shares and other assets remaining in the Employee Trusts after the re-allocation and distribution to new and existing Sasol employees will be distributed to the Foundation as residual vested beneficiary.
The shares held for the benefit of employees by the Employee Trusts will be under the control of the employees of Hulamin through their representation among the trustees.The salient terms and conditions of the Hulamin share incentive schemes are set out in Annexure 9 to this pre-listing statement.
Sasol Employees and Black Managers will also be entitled to requisition a meeting of participants.Until the end of the Empowerment Period, the Employee Trusts may not dispose of, or encumber the Sasol Ordinary Shares issued to these trusts, other than in terms of the relevant trust deeds.
Deferred loan costs of R22 million have also been recognised in the statement of financial position.In addition to the above, the following amounts were also recognised for the year ended 30 June 2009 in respect of the Inzalo share transaction:■ An amount of R767 million has been recognised in the income statement and in the share-based payment reserve in the statement of changes in equity in respect of the share-based payment expense related to the Employee Trusts.