“The cost of selling shares may be more than the value of those shares. As the year draws to a close and we prepare for the holiday season, investors can share in the spirit of giving by easily cleaning out their untidy portfolios and donating odd lot JSE-listed shares towards SCS for distribution to charities across South Africa,” said Tom Wixley, chairman of Strate Charity Shares (SCS).
The initiative has been running for several years with a total of 2.7 million rand being donated to different charities since inception. This year, SCS announced that it will be donating 600 000 rand to six charities.
“We aim to break through the 3 million rand mark within the next year, which is a great achievement for SCS. We’d like to thank all investors who have helped us achieve the amounts donated to date,” added Wixley.
He further explained that SCS is a win-win situation, as there is no cost to donating shares.
“The funds contributed to SCS are derived from share donations by investors, usually in the form of odd-lot shares, which SCS then aggregates and sells. It is as simple as filling out the necessary form and returning it at no cost in the prepaid envelope provided,” continued the statement.