Sep 30, 2005. /Lesprom Network/. Nampak's shareholders have given the company's R1 billion Black Economic Empowerment (BEE) transaction, which involves all its permanent South African employees and a broad-based consortium headed by Reuel Khoza's Aka Capital, the thumbs-up. The approval was received at a special shareholders meeting in Johannesburg earlier today, and successfully concludes Nampak's BEE transaction. The transaction, ranked as one of the largest concluded in the manufacturing sector to date, was officially unveiled in August. Along with notices to the Johannesburg Securities Exchange and the High Court, the shareholders' consent cements the technical mechanisms underpinning the transaction and allows for the shares to vest in the nominated beneficiaries. The transaction physically takes place on 30 September 2005. Nampak's Chief Executive Officer, John Bortolan, says that he's delighted with the shareholders' decision, but isn't surprised by it. "In creating a BEE vehicle that's genuinely broad-based and empowering, we consulted widely and sought the involvement of various stakeholder groups from the outset. As a result, individual and institutional investor concerns were ironed out before we reached this final point." The company's new business partners are expected to make a significant contribution towards unleashing Nampak's great potential. While the involvement of Reuel Khoza's consortium, which includes broad-based representation from the trade unions and women's groups, is likely to effect change at the Board and strategic management levels, John is particularly proud of the fact that every one of Nampak's 10,200 permanent South African employees now owns a piece of Africa's largest packaging company. "We're starting a fresh chapter in Nampak's history and it's a privilege to bring everyone along with us," adds John.