Innovative share charity scheme raises R1,5m
Strate Charity Shares (SCS), a scheme designed to help the needy via the donation of JSE listed shares, donated a total of R300 000 to four charities this week.
To date, SCS has donated a total of R1, 5 million to a range of charities. Beneficiaries of the current donation include the African Children’s Feeding Scheme, Bethany House Trust, Child Welfare SA and Child Welfare Tshwane.
“We experience much gratification from each payment we are able to make from SCS,” said Monica Singer, CEO of Strate, South Africa’s Central Securities Depository during the presentation ceremony in Johannesburg last week.
The funds contributed to SCS are derived from share donations by investors, usually in the form of odd-lot paper share certificates, which SCS then aggregates, dematerialises and sells. Lost share certificates and unclaimed dividends may also be donated.
Tom Wixley, SCS chairman explained that the cost of selling such shares frequently exceeded their value.
“By donating those odd-lots to charity, investors not only rid themselves of assets that are little more than nuisance value but they contribute toward the upliftment of the nation’s less fortunate,” he said..
The win-win situation presented by SCS is raising substantial sums of money, thereby offering charitable bodies a source of funds that would not otherwise have been available to them. SCS continues to solicit donations from investors. The 2011 goal is to boost the seven-year sum for charitable causes to more than R2 million.
"The co-operation of all CSD (Central Securities Depository) Participants, brokers and transfer secretaries in assisting in the donation processing is greatly appreciated, as is the pivotal role that Strate has played in running the scheme," said Wixley.
Corrie De Bruyn, Chief Executive Officer, PSG Online, thanked PSG Online clients for their contribution to Strate Charity Shares
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