Security firm leads BEE way

A SECURITY company is leading the way in black economic empowerment in the Eastern Cape.

Hotel Resort and Gaming (HRG) Security Services, a Port Elizabeth-based security company focused on the hospitality industry, has rewarded its employees' hard work by paying dividends for the first time to staff members belonging to two trusts today. This equates to 45% of the company's shareholding.

HRG Security Services group legal and compliance manager Marius Smuts said when the company informed the Private Security Industry Regulatory Authority (PSIRA) about the company's declaring of dividends and the beneficiaries, PSIRA confirmed that they were the only security company in the province that had empowered their staff in this manner.

Smuts said from when the company was established in 2005 two employee trusts were set up, the General Employee Share Trust and the Development Share Trust. "Employees become beneficiaries of the General Employee Share Trust after being employed for a specific amount of time.

"The beneficiaries of the Development Trust are identified as current or future middle and senior management and hold shares in their own name.

"The General Employee Share Trust holds 25% of the issued shares and the Development Trust holds 20%. The beneficiaries of the two trusts equates to 148 employees," Smuts said.

The Level One BEEE-contributor has been providing security services to The Boardwalk since 2006, and also offers services to sthe City Lodge Group and the Willows Resort, among other businesses.

"We are really excited that we are now able to give back to our staff after all the hard work they put in. Depending on the financial well-being of the company, we will hopefully be able to do so annually," Smuts said.

The company has won the South African Council for Shopping Centres' award for security service providers twice, as well as a PMR Africa Silver Arrow award. - Business Reporter