ESOP Centre Awards 2013 finalists announced
Congratulations to Edwards Group, IGas and Pearson on being named as finalists for this year’s ESOP Centre Awards. The finalists were announced in Barcelona at the Annual European Conference by ESOP Centre chairman, Malcolm Hurlston CBE.
The ESOP Centre has taken the lead in supporting broad-based employee equity schemes for more than 20 years. For twelve year now the prestigious Centre Awards provide best practice case studies, which inspire other companies in the sector.
Nominated by Equiniti, Edwards were named as finalists in the category ‘Best International Share Ownership Plan (over 1,500 employees)’ and IGas in the category ‘Best Employee Share Ownership Plan (fewer than 1,500 employees)’. Following a successful introduction of the new category, ‘Best all-employee share plan communications’, Pearson also made the prized shortlist.
The winners will be announced at the annual Centre dinner in London on the 6th of November 2013.
For more information:
Tel: +44 (0) 1903 833227
Notes to Editor
Equiniti is a market leading business process services provider. We support 1,600 of the UK’s leading businesses and public sector institutions, including around half of the FTSE 100. Our core capabilities are centred around complex administration and payment solutions including money transmission, administration and customer interactions delivered by 2,700 employees in 23 UK office locations.
Equiniti is the UK’s leading provider of share registration, retail investor services and employee share plans, acting for around half of the FTSE 100 companies and 36 per cent of the FTSE 250. Equiniti is responsible for 17 million shareholder accounts and over 1 million employees. In 2012 was recognised as the Best Shareholder Services Provider at the Shares Awards.
About the ESOP awards
For more than 20 years, the ESOP Centre has taken the lead in encouraging broad-based employee equity schemes. The awards, now in their twelfth year, provide best practice case studies which lead where other companies can follow.
For 2013 three main awards will be made to companies and their advisers:
- Best employee share ownership plan for a company with over 1,500 employees
- Best employee share ownership plan for companies with fewer than 1,500 employees
- Best communications supporting an all-employee share plan
An additional individual award will be bestowed upon the ESOP Centre’s share plan personality of the year. The winners will be decided by a panel of three impartial judges who are experts in the area of employee equity. These judges include Malcolm Hurlston CBE, chairman.
Edwards is a leading manufacturer of vacuum products and a leading provider of of related value-added services for the manufacture of semiconductors, flat panel displays, LEDs and solar cells. Edwards Group Limited is a Cayman Islands incorporated company (but UK tax resident and headquartered) with a main listing of American Depositary Shares on The NASDAQ Global Select Market in the U.S. under the symbol EVAC, which complicated the legal position. Its Sharesave scheme was designed as part of an IPO, having previously enjoyed a similar scheme as part of BOC Group plc. The results were astonishing for a first launch, with over half of eligible employees signing up – a testament to the communications work done, all within an 8-week project timeframe.
IGas explores and develops gas and oil reserves at onshore locations in England and Wales. IGas launched a SIP in 2013. Of the 160 employees 136 employees are eligible to join the scheme. The basis of IGas’s SIP is to incentivise employees on a quarterly basis to meet their oil barrel production targets. The scheme accumulates employee’s contributions over three months and the matching share ratio per quarter is award at a ‘1 for 1’ standard rate, which is increased to a ‘2 for 1’ rate if the targets were met. 75 percent of employees elected to save monthly from April 2013.
Pearson celebrated its Sharesave’s 30th anniversary last year. Such dedication to employee share ownership is commendable. However, familiarity with a product breeds its own set of communication challenges. For the 2013 plan launch, the team therefore decided to revisit their strategy with outstanding results, receiving warm feedback from employees.