MICAWBER’s shares are, according to Sandbox Holdings’ Shareholders Agreement, specifically reserved for BEE purposes and only BEE candidates and partners may participate in this opportunity. Through the implementation of MICAWBER, Sandbox Holdings will be in line with the required statutory requirements.

20% of Sandbox was allocated to BEE. A special purpose vehicle (SPV) was created for this and exists in the form of MICAWBER 613 (Pty) Ltd.

Any further information with regards to Micawber is available on request.