Press Room

Press Room

Peermont’s Khoroni Resort announces two Limpopo BBBEE community trusts as shareholders


23 November 2010


Peermont Global (Pty) Limited ("Peermont") announced today, 18 November, the transfer of 10% (ten percent) of the shares of Peermont Global (Limpopo) (Pty) Limited, trading as Khoroni Hotel Casino and Convention Resort in Thohoyandou, Limpopo ("Khoroni") to two new Broad-Based Black Economic Empowerment ("BBBEE") community trusts in the greater Vhembe region, Limpopo.

Peermont Global (Pty) Limited ("Peermont") announced today, 18 November, the transfer of 10% (ten percent) of the shares of Peermont Global (Limpopo) (Pty) Limited, trading as Khoroni Hotel Casino and Convention Resort in Thohoyandou, Limpopo ("Khoroni") to two new Broad-Based Black Economic Empowerment ("BBBEE") community trusts in the greater Vhembe region, Limpopo.  Khoroni has a 83.89% Black equity ownership and is a Level 4 BBBEE contributor. This transfer of 10% of the shares in Khoroni is pursuant to a commitment previously made to the Limpopo Gambling Board.

Peermont has created a new BBBEE trust, the Khoroni Community Education Trust, to which 5% (five percent) of the shares of Khoroni have been donated.  This trust has been set up with the intention of benefitting local communities in the Vhembe region in Limpopo through education interventions.

A further 5% (five percent) of the shares of Khoroni has been acquired at nominal value (being ten Rand) by the Mulenzhe Khoroni Investment Trust, also a new BBBEE trust which will serve to benefit the communities in the Vhembe region in Limpopo.

The above transfers are in addition to the benefits currently derived from Khoroni by the local communities in the Vhembe region and will result in new community investment initiatives.

Anthony Puttergill, Peermont Group Chief Executive Officer commented, "We are pleased to confirm the transfer of 10% of the shares of Khoroni to local BBBEE shareholders.  This transfer of shares is indicative of our Group's philosophy of empowering local communities, and the further development of the regions in which our resorts operate". 

Peermont is a leading southern African, Black owned and controlled company in the hospitality and gaming industry.

Peermont has an excellent track record in the design, development, management, ownership and operation of multi-faceted integrated resorts, including hotels, casinos, convention centres, retail centres, health spas, restaurants, bars and other sport and entertainment facilities.


- Hotels Casinos Resorts Event Conferencing Golf Entertainment in Southern Africa