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Pets at Home staff share in potential £11.7 million pay-out from sharesave scheme

Pets at Home has announced that over 500 of its staff members could make a potential collective gain of more than £11.7 million from its  sharesave… View Article

GENERAL MERCHANDISE

Pets at Home staff share in potential £11.7 million pay-out from sharesave scheme

Pets at Home has announced that over 500 of its staff members could make a potential collective gain of more than £11.7 million from its  sharesave scheme.

Employees who have been contributing to the scheme on a monthly basis since 2018 have seen the value of their investment increase by almost fivefold following the success of the company’s pet care strategy.

Under the scheme, all staff members were given the opportunity to save between £5 and £500 a month to purchase Pets at Home shares at a fixed price of just over 94p. This represented a discount of 20% on the prevailing share price at launch. As of 30 November 2021, the share price had increased to £4.654.

On average, employees invested £148 per month, totalling £5,345 over the scheme period. Pets at Home said those contributing the maximum amount of £500 per month, saving £18,000 in total, could now own shares worth around £89,000, which is a potential gain of £71,000. Since 2014, staff members across the business have saved £6.8 million across 2,100 active sharesave plans which were worth £21 million at maturity.

Louise Stonier, chief people and culture officer at Pets at Home, said: “At Pets at Home, colleague share ownership is hugely important to our company culture. Our colleagues are so dedicated to supporting our customers and pets and I’m delighted that they are able to share in the value that we create together. It is wonderful to see colleagues participating in share plans across the company and to hear what they plan to spend their well-earned money on, especially when it’s just in time for Christmas.”

A colleague from Pets at Home Walton-on-Thames store, who saved £500 a month with sharesave, said “Sharesave is a really good way for colleagues to share in the successes of our business. I am going to use my potential earnings to put down a deposit on a property and buy a new car.”

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