Shareholding, Directors and Staff
Up until the end of 2014 the two major shareholders in Sunspray were Sabvest (48,2%) and the DEW Family Trust (49,4%). In order to meet new BBBEE requirements these two shareholders decided to sell more than half their shares to a BBBEE consortium headed by RMB Corvest and Shalamuka. The investment company is called Arpdeen, who then held 56% of the shares.
Sabvest Ltd controlled 22% of the shareholding of Sunspray Food Ingredients (Pty) Ltd. The company is quoted on the Johannesburg Stock Exchange and the Executive Chairman is Mr Christopher Seabrooke, B Com., B Acc., MBA. Mr Seabrooke is a non-executive director of Sunspray Food Ingredients.
Mr David Watson B.Sc. (Chem Eng), MBA, through a family trust, held a 22% shareholding in Sunspray Food Ingredients. He was a full-time employee of the company in the capacity of Managing Director until the end of April 2018.
As part of the sale agreement entered into with RMB Corvest in 2015 and after three years the DEW Family Trust exercised a put option and sold its 22% shareholding to Arpdeen and Sabvest. These two companies now hold 71,8% and 28,2% shares in Sunspray respectively.
Mr Martyn Evers, ACA; CA(SA), has been appointed to the position of Financial Director. He has had extensive experience in manufacturing as Group Financial manager for Kimberly-Clark of South Africa (Pty) Ltd and as CFO for Set Point Group (Pty) Ltd, a mining support services group.
Mrs René Cross, Nat Dip Food Tech; SAIM Business Management, holds 6% of the company shares via her shareholding in Arpdeen and is a full-time employee of the company and is on the Board of Directors in her new capacity of Managing Director. Prior to joining Sunspray Food Ingredients in 2006 Mrs Cross had extensive experience in the Food and Flavour industry having worked for Nestlé, Simba and IFF in various management positions covering QA, Production, Operations and Marketing.
In total, spread across both manufacturing sites, Sunspray has approximately 280 full time employees. The majority are in manufacturing and its support services such as quality assurance, quality control, logistics and engineering services. The balance of the staff is in general management, marketing (including research & development) and administration. Nearly fifty members of staff have tertiary education qualifications and nearly 30% of staff have been with the company for longer than five years.
Sunspray has contracted out all its local transport requirements to various BEE companies. These companies service the transport needs on behalf of Sunspray, in Gauteng, Durban and the Western Cape and locally for the cold chain products.
The company is also fully committed to a number of Enterprise Development programmes which will assist with higher BBBEE ratings. Sunspray also takes the Employment Equity Act seriously and is making good ongoing progress in this regard.
As part of its commitment to the BBBEE initiative, the Company has recently completed a Learnership programme for 20 previously unemployed students. A Learnership programme for 13 employed staff has also commenced as well as two internships. Sunspray is also investing in a supplier development initiative with an egg producer.
The most recent learnership covers 12 unemployed learners focusing on Health and Safety – numerous apprentices and interns will be employed from 1 November 2018 in laboratories, workshops (for both sites) and in the OHAS department