Strate Charity Shares (SCS), an innovative scheme designed to get rid of unwanted odd-lots of JSE-listed shares to help a variety of needy causes, this week donated R100 000 – in all R400 000 – to four worthy causes.
To date, SCS has raised over R2 million and donated it to a range of charities.
Beneficiaries of the current contribution are:
- African Children’s Feeding Scheme;
- Bethany House Trust;
- Child Welfare SA; and
- Child Welfare Tshwane.
We experience much gratification from each payment we are able to make from SCS,” says Monica Singer.
A solution for those nuisance odd-lots
The funds contributed to SCS are derived from share donations by investors, usually in the form of odd-lot paper share certificates, which SCS then aggregates, dematerialises and sells. Lost share certificates and unclaimed dividends may also be donated. Donations can be deducted from taxable income, as the scheme is registered under section 18A of the Income Tax Act.
Tom Wixley, SCS chairman, explains the motivation: “The cost of selling such shares frequently exceeds their value, but because of the generosity of Strate, Computershare, PSG and others, we are able to get the full value free of cost. Hence, by donating those odd-lots to charity, investors not only rid themselves of assets that are little more than nuisance value but they contribute toward the upliftment of the nation’s less fortunate.
The win-win situation presented by SCS is raising substantial sums of money, thereby offering charitable bodies a source of funds that would not otherwise have been available to them.”
Every CSC donation counts
SCS continues to solicit donations from investors. “The co-operation of all CSD Participants, brokers and transfer secretaries in assisting in the donation processing is greatly appreciated, as is the pivotal role that Strate has played in running the scheme,” says Wixley.
Even so, he believes considerably more could be done to create a greater awareness of the initiative.
For further details, queries and/or donations contact the Strate Charity Shares toll free help line on 0800 202 363. If you are phoning outside South Africa, you may call +27 11 506 4713. SCS donations may be made through the investor’s stockbroker as well.