Brico Dépôt gives its employees the opportunity of becoming shareholders in the mother company and doubles their shares

Mihai Cristea 13/10/2020 | 16:05

Brico Dépôt Romania, part of international home improvement company Kingfisher plc, offers a bold strategic share plan for all its employees, under the global umbrella “1+1 Sharing In Our Future” plan. Every one of the circa 2.500 employees working at Brico Dépôt will have the opportunity to become a shareholder within the company. Moreover, every share bought by an employee will be matched by the company on a one-for-one basis.

 

The share plan is open to all 74.000 Kingfisher current employees, who can enrol in the program between October 12 and November 20, 2020. They will have to allocate a fixed amount for a period of six months to buy shares and hold them for one year, to benefit of the doubled shares.

“Behind the success of every company lies the hard work and dedication of its employees.  We are committed to rewarding each and every one of them for their implication, regardless of their position within the company. We are glad that Romania is part of this strategic plan launched by Kingfisher and that all our colleagues have the opportunity to become shareholders, thus offering them an even higher role in the future of the company. This is our way of thanking them for their contribution, especially during the past months, when the efforts to continue our activity under these challenging conditions and to find the best solutions for our customers and partners were even more substantial”, stated Adela Smeu, CEO, Brico Dépôt Romania.

In Romania, the contributions are set between 50 RON and 1.250 RON per month and will be automatically deducted from the salaries between January 2021 and June 2021. The shares will be bought in July 2021 and the company will match every share purchased on a one-for-one basis, so every employee who registered in the program will have twice as many shares as they initially bought. They will also benefit of any potential dividends that will be allocated within this period, which are automatically reinvested into shares that will also be matched by the company. After a vesting period of one year, in July 2022, the shares, both purchased and matched, will be automatically sold at market price.

For more details regarding the plan, please access www.kingfisher-shareplan.com/ro.

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