Entain PLC Entain launches employee share ownership plan
April 15 2021 - 2:30AM
RNS Non-Regulatory
TIDMENT
Entain PLC
15 April 2021
15 April 2021
Entain launches share ownership plan for over 22,500
employees
Entain, the leading global sports betting and gaming
entertainment group, has launched a Group-wide employee share
ownership plan to give UK and international colleagues the
opportunity to share in the success and growth of its global
business.
Around 22,500 employees at all levels of the business can now
apply to join Entain's ShareSave plan. In the UK, where Entain has
2,885 Ladbrokes and Coral shops spread across the UK and Ireland,
almost 14,000 retail colleagues can apply for the plan. By starting
monthly contributions at just GBP5 or more, Entain hopes to put
share ownership within reach of everyone, including people across
its international operations.
Entain said ShareSave will initially be offered to colleagues
working in countries representing around 99% of its workforce, also
including the Philippines, India and Bulgaria. The company said it
had initially placed a GBP100 monthly cap on contributions to
reflect the truly global nature of its business and currency
differences across the workforce, with the aim of maximizing the
appeal to all colleagues.
"Entain has been one of the highest performing companies in the
FTSE-100 over the past year, which is the result of hard work and
efforts from teams across our international business," said Jette
Nygaard-Andersen, Chief Executive of Entain. "Building a strong
customer-centric culture where everyone contributes and shares in
our continuing success is really important, so this plan is
designed to be attractive and accessible to all."
The new plan overtakes previous employee share plans introduced
in country markets and companies that have, by acquisition, become
part of Entain in recent years. The company has said it intends to
increase those eligible to join the plan in future years as it
continues to grow through acquisition.
Under the terms of the ShareSave plan, colleagues can choose to
save a monthly sum from GBP5 to GBP100 over three years. At the end
of this period, they will have the opportunity to buy shares in
Entain for 20% less than their market value at the start of the
invitation period, which they can sell for a potential profit.
Alternatively, they can retain the stock as shareholders in the
company, or simply take their savings back.
Under the terms of the plan someone putting aside GBP50 monthly
would save GBP1,800 over the period, compared to GBP3,600 with the
maximum GBP100 a month. After applying the 20% discount, this would
buy 142 or 284 Entain shares. The new plan is being implemented
this year as approved by shareholders at the company's last annual
meeting.
Media Enquiries:
Media - Entain plc
Tessa Curtis, Head of Media Relations t essa.curtis@entaingroup.com
Jay Dossetter, Head of ESG and Press Office j ay.dossetter@entaingroup.com
Media - Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening / Elly Williamson entain@powerscourt-group.com
Note to Editors
The Entain Share Save plan extends to its people working in
across its global markets. Only those at BetMGM in the U.S., a
joint venture with MGM Resorts International, and in countries with
fewer than five employees, are ineligible.
In the UK, the government introduced the Savings Related Share
Option Scheme in 1980 to encourage employees to buy stakes in the
companies for which they work, with HM Revenue & Customs
approval.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports-betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports Brands include bwin,
Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and
Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala,
Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino.
The Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services
to a number of third-party customers on a B2B basis. The Group has
also entered into a joint-venture with MGM Resorts to capitalise on
the sports-betting and gaming opportunity in the US. The Group is
tax resident in the UK with licenses in a total of 27 regulated
markets.
For more information see the Group's website: www.entaingroup.com
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