Springfield Properties PLC Springfield wins Best New Share Plan
13 December 2018 - 6:01PM
RNS Non-Regulatory
TIDMSPR
Springfield Properties PLC
13 December 2018
13 December 2018
Springfield Properties plc
("Springfield" or the "Company")
Springfield wins Best New Share Plan at ProShare Awards 2018
Springfield Properties (AIM: SPR), a leading housebuilder in
Scotland offering private and affordable housing, has won Best New
Share Plan at this year's ProShare Awards, which recognise and
reward innovation and excellence within the share plan
industry.
The Best New Share Plan award recognises newly-launched employee
share plans that are designed to link clearly with business
objectives. It must also be effectively communicated and have a
simple process to encourage employee participation, resulting in
strong levels of uptake. In particular, the judges were impressed
with Springfield's above-average take-up, especially that this
level of engagement was achieved in a working environment where the
majority of the workforce is deployed outdoors over multiple sites
and that it included a very high take-up amongst both younger and
female employees.
At the time of the Company's IPO on AIM in October 2017,
Springfield launched an employee Save As You Earn scheme through
YBS Share Plans, part of Yorkshire Building Society (YBS). The
sharesave scheme offered every employee the option to save GBP5 to
GBP500 a month over a three-year period and, at the end of the
period, employees are able to use those savings to purchase shares
in the Company at a 20% discount to the price at which the Company
floated.
Springfield implemented a multi-pronged engagement campaign to
raise awareness of the scheme and its benefits with employees. As a
result, 333 employees (69% of the workforce - from all parts of the
Company) joined the scheme, with average savings of GBP221.41 per
month and a large number of employees opting to save the full
monthly amount.
ProShare is a not-for-profit member organisation that aims to
foster responsible employee share ownership on terms favourable to
companies and their employees through engagement with policymakers,
companies, advisers and service providers and driving
awareness.
Ashley Price, Head of YBS Share Plans, said: "I was thrilled to
see Springfield Properties plc rewarded for the launch of their
Sharesave scheme at the 2018 ProShare Awards winning the 'Best New
Share Plan' category. The communication and engagement put in place
resulted in truly remarkable participation rates across all age
bands and genders, and we have been delighted to support
Springfield and see so many of their employees see the value of
employee share ownership."
Innes Smith, Chief Executive Officer of Springfield, added:
"Looking after our employees is a strong part of the Springfield
ethos. We have a skilled and hardworking team who are responsible
for what Springfield achieves, and we wanted to provide them with
an opportunity to be more directly invested in, and benefit from,
the future success of the business. It was also important to us
that the scheme was inclusive and accessible across our diverse
workforce.
"We are really pleased with the uptake of the programme, which
at 69% is well above average for this type of scheme within our
industry, and that employees from all parts of the business have
chosen to take part - from our apprentices to trades people through
to salaried employees and senior management - across all age bands.
We are delighted that the success of this scheme has been
recognised by the ProShare Awards, and we look forward to
continuing to grow our company for the benefit of all our employees
and other shareholders."
Enquiries:
Springfield Properties
Sandy Adam, Executive Chairman
Innes Smith, Chief Executive Officer +44 1343 552550
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N+1 Singer
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Shaun Dobson, James Moat, Rachel
Hayes +44 20 7496 3000
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Luther Pendragon
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Harry Chathli, Claire Norbury, Alexis
Gore +44 20 7618 9100
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END
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