Retailers

Pets at Home colleagues to benefit from potential £11.7m payout

Under the scheme, all colleagues 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

Pets at Home has revealed that its colleagues can share in a potential £11.7m payout from the company’s Sharesave Scheme.

Under the scheme, all colleagues 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.

As of 30 November 2021, the Pets at Home share price had increased to £4.654, benefitting colleagues in the scheme who are now able to sell their shares at a “considerable” profit or retain them and receive dividends.

On average, colleagues invested £148 per month, totalling £5,345 over the scheme period. The average scheme is now estimated to be worth around £26,400 resulting in a potential gain of £21,000.

Since 2014, colleagues across the business have saved £6.8m across 2,100 active Sharesave plans which were worth £21m at maturity.

Louise Stonier, chief people and culture officer, said: “At Pets at Home, colleagues 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.”

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