Asda employees have converted fractional shares into a sizeable charity donation.
Members of Asda’s colleague share ownership plan were given the option to donate the US-listed shares they held in Wal-Mart once they came to maturity, as they were only marginally in profit and people had a small or fractional amount of shares.
Over 2,100 employees opted to donate shares to ShareGift, a charitable organisation that amalgamates and sells unwanted shares and then uses the proceeds to donate to UK registered charities. ShareGift made a donation of £10,000 to Tickled Pink, Asda’s own charity initiative for breast cancer support.
Laura Wilcock, shares manager at Asda, said: “Giving colleagues the option to give their shares to charity was definitely a success, and was well received."
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