11 Feb 2016
YES, another shared success!
YES (Your Employee Shares), the Group long-term stock ownership plan, concluded its third year last December. In the space of three years over 7,200 employees - more than 44% of the total - have become investors, with a total investment of approximately €17.5 million.
The 2015 YES enrollment campaign opened up the plan to 19,000 Group employees in 28 countries. More than 3,500 people have responded, investing about €4.9 million. A large number of YES subscriptions were also received from the recently-acquired US company, Gulf Coast Downhole Technologies (GCDT), where 68% of employees have become owners of a small part of the business.
Some countries and companies registered, as always, particularly high levels of employee participation, for example, 67% in Romania, 61% in Turkey, 58% in Milan headquarters, 57% in Prysmian Power Link, and around 40% in Estonia. Other countries like Spain, Germany, US, Australia, Finland and Malaysia reported lower participation rates, at around 10%.
YES was originally created as a three-year program, with 2015 as the final year. The plan can be considered a great success, because it has demonstrated once again employee trust in the Group and their strong sense of engagement and faith in its future. “I’m very happy about our worldwide employees’ bond” commented Fabrizio Rutschmann. “What we see in our Group is something extraordinary, with the participation rate rising every year. I’m particularly proud of the commitment by our new colleagues; it reconfirms the attractions of this program and how much our people wish to be on board.”
Shares will be bought on YES members’ behalf by a plan administrator on the Milan Stock Exchange over a 5-day period, from July 5 to July 11, 2016. Everyone will get their shares at the same price (the average of the prices actually paid over the 5-day purchasing period).
Should you have any questions, please contact your local YES Ambassador.