OCEANA IS RANKED 7TH IN 2007 TEC SURVEY

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Oceana director Lea Conrad is congratulated by Barney Mthombothi, editor of the Financial Mail, on Oceana’s ranking in the top 10 of the Financial Mail Top Empowerment Companies survey.

The primarily objective of the Financial Mail’s TEC survey is to rank the top JSE listed companies in terms of their progress in broad-based black economic empowerment (B-BBEE) in 2007. The basis of the survey is the department of trade and industry’s (DTI) B-BBEE Codes of Good Practice.

This is the fifth TEC survey. The research project which is done together with an independent BEE rating and research agency, Empowerdex, and is often relied upon to determine a company’s BEE status in the absence of an independent rating.

In tandem with the continuing development of the codes, the methodology of the survey has also evolved to reflect the latest version of the codes. The results were announced during April with Oceana being ranked in the top 10 for the second year running. Oceana was ranked 7th overall out of 188 JSE listed companies and second in the Food and Beverages category.

Since 2005 the Group has increased its BEE score significantly.