At Kingfisher, with our new strategic plan, we want to give all our colleagues the opportunity to be part of that plan as shareholders and to share in our collective future. We are today launching an all-colleague share plan: the “1+1 Sharing In Our Future” plan. Every one of our 77,000 colleagues will be given the opportunity to become shareholders.*
The new plan will mean every share bought by a colleague will be matched by Kingfisher on a one-for-one basis. The minimum monthly contribution will be £10, with a maximum total contribution limited to £1,500, to ensure that store colleagues are the priority.
How the plan works: simple, accessible, convenient
- Open to all Kingfisher colleagues employed in September 2020.
- Participants can register for the plan between October and November 2020.
- Participants can choose to contribute anything between £10 and £250 a month (or the equivalent value in local currency).
- Contributions will be made for six months between January 2021 to July 2021.
- The shares will be bought in July 2021.
- Kingfisher will match every share purchased on a one-for-one basis.
- After a vesting period of one year (in July 2022), participants can choose to keep or sell their purchased and matching shares.
- As shareholders, participants will be able to:
- Vote at the Kingfisher AGM.
- Receive dividends accrued during the vesting period. These are automatically reinvested into shares.
- Participants can sell their purchased shares before the end of the vesting period, but they will not receive their matching shares if they do.
Thierry Garnier, Chief Executive Officer, Kingfisher plc: “As a retailer, with over a thousand stores, our 77,000 colleagues are the driving force of our business. They work every day to look after our customers, whether they are working in stores or in our head offices. We have just launched a new strategic plan at Kingfisher and we now want to give all our colleagues the opportunity to be part of that plan as shareholders and share in our collective future. We have decided that with every share purchased by colleagues, Kingfisher will match it on a one-for-one basis”
*In the limited geographies where that is technically difficult, colleagues will become mirror shareholders.
https://kingfisher-shareplan.com/gb/
