Whitbread Group’s three- and five-year sharesave schemes could result in a possible total return of £4.4 million for employees after they matured on 1 February.
Just over 1,100 employees participated in the three-year scheme, while 69 took part in the five-year plan. When the three-year scheme was launched, Whitbread Group’s share price stood at about £9.10, while the five-year scheme saw a share price of around £14.01 at launch.
Both sharesave schemes offered a 20% discount to participating employees. Following the plans’ maturity, staff who opted to save £80 a month through the three-year scheme could come away with a shareholding worth £6,517.50 if they buy the shares under option, at the option price of £7.28. This would equate to a profit of about £3,600 if the shares were sold at a price of £16.47 (as at 31 January).
Under the same terms with the five-year scheme, based on an option price of £11.21, employees could make a potential profit of about £1,400.
Daren Lowry, head of secretariat and risk management at Whitbread Group, said: “They have got six months in which to exercise their options.”
Both schemes were provided by Yorkshire Building Society.
Whitbread Group’s next sharesave schemes, which will mature in February 2015 and 2017, were offered to employees in December 2011 with the first salary deductions taking place last month.
More than 2,500 staff joined the latest schemes.
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