Press release from Business Wire India
Tuesday, February 08, 2011 03:20 PM IST (09:50 AM GMT)
Editors: General: Consumer interest, Travel & tourism; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Travel & tourism
Steria Shares its Employee Shareholding Plan for 2010'
Noida, Uttar Pradesh, Pune, Maharashtra and Chennai, Tamil Nadu, India, Tuesday, February 08, 2011 -- (Business Wire India) -- The successful 2010 international employee shareholding plan has brought the total employee stake in Steria up to almost 20%, providing further demonstration of staff's high expectations of growth for their group - and of their desire to be involved in strategic decision-making.
On December 16, 2010, Steria proceeded with a share capital increase reserved for its employees. This gave the Group's 18,300-strong workforce, located in 13 different countries, the chance to become shareholders in Steria. Two different offers were available: a 'classic' issue, with matching shares awarded by the company, and a leveraged plan with a guaranteed minimum yield. Both schemes require employees to hold the shares for five years. The share issue price was fixed at ?15.94 on November 15, 2010; this incorporated a discount of 20% on the average share price recorded over the previous twenty days. In all, 531,860 new shares were issued, with total subscriptions of ?8,151,094. As of December 31, 2010, the total number of shares issued thus stood at 30,017,947.
In addition, the continuation in 2010 of a 2008 Share Incentive Plan, governed by UK law, enabled Steria's UK and Indian employees to purchase a total of 75,306 Steria shares, with matching shares awarded by the company.
The 2010 plan led to an additional 5,000 Steria employees becoming shareholders in the company, further strengthening the firm's unique participative governance model - and further enhancing its attractiveness to talents looking for a service company which places shareholder employees at the heart of its Corporate Responsibility policy.
Isabelle Grangé, Steria, +33 (0)1 34 88 64 44, firstname.lastname@example.org
Charles Catherinot, Hotwire, 33 (0)1 43 12 55 61, SteriaGroup@hotwirepr.com
Sachdev Ramakrishna, Steria, +91 (120) 4085000, email@example.com
CONSUMER, TOURISM, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, TRAVEL
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