29 Apr 2015
Great success for YES plan 2nd year!
More than 6,400 Group employees are now investors. The second year of the stock ownership plan YES (Your Employee Shares) — the Group long-term stock ownership plan — has come to an end. Although the exact number of Brazilian participants has yet to be included in the total, the plan already shows impressive numbers. 40% of Group employees submitted their YES application, meaning that more than 6,400 employees enrolled over the two years of the plan. With a special focus on the second year, total investment amounts to approximately €5.5 million.
The 2015 enrollment campaign for YES opened up the Plan to 19,000 Group employees in 28 countries around the world*. The high number of YES subscriptions indicates that the opportunity the company wanted to offer all employees to become owners of a small part of the business has been very well received also this year.
In some countries, employees’ participation was particularly remarkable, reaching, for example, 100% in Romania, 89% in Turkey, 67% in Milan headquarters, 58% in Prysmian Power Link, and 54% in Italy. In other countries like the USA and France, where participation was lower, it nonetheless reflected a stable and solid base of participants from all categories of employees. Improved results were also reported by the UK and Nordic countries, i.e., Norway, Denmark and Finland, whereas Central and Eastern Europe (CEE) and ASEAN countries registered a declining participation rate in the plan’s second year. Lastly, China, which participated for the first time, recorded a large number of subscriptions.
In terms of general response, the YES plan can be considered once again a great success. According to Fabrizio Rutschmann, HR and Organization SVP, “The Group’s employees confirmed a strong sense of engagement and faith in their company’s future. What’s more, the plan resulted to be appealing for new joiners, who applied in large numbers to this second edition. I believe this is further proof that we definitely succeeded in strengthening the ties between Prysmian and its employees, once again.”
What happens next?
For those who decided to pay in installments, investments are now being collected through deductions from your monthly salary; for those who have decided to pay in a single installment, investments will be collected through payment via wire transfer starting from June. Detailed instructions on payment methods will be soon communicated.
From July 6 to July 10, 2015 shares will be bought on YES members’ behalf by a plan administrator on the Milan Stock Exchange. Everyone will get their shares at the same price (the average of the prices actually paid over the 5-day process).
Should you have any questions, please contact your local YES Ambassador.
[*] the Group countries not included in the Plan are Argentina, Indonesia, Ivory Coast, New Zealand, Philippines and Tunisia, due to their respective local legislations.