14 Jan 2015
YES, new enrollment opportunity presented in Milan
CEO Valerio Battista publicly launched the campaign, which will start in February
Prysmian Group CEO Valerio Battista has launched the new enrollment campaign for YES (Your Employee Shares), the Group long-term stock ownership plan, during a special meeting for Headquarters’ employees in Milan. This new campaign will open up the Plan to employees in as many as 27 countries around the world*.
During the first three weeks of February employees will have a fresh opportunity to enroll in the Plan: local Ambassadors are already available to provide support and all the necessary details and information. Last year YES was subscribed by 32% of those eligible. But, as Mr. Battista underlined, “We are now aiming to make YES an even greater success.”
YES offers 16,000 Group employees around the world the opportunity to buy Prysmian shares at a discount of up to 25%** on market price (or a 1% discount in the case of top management). The Plan is structured in three annual tranches, with a total of 500,000 treasury shares earmarked to serve the discounted purchases as well as the initial bonus of 6 free shares. The shares may not be sold in the 36 months** following the date of purchase and by the end of the Plan, it is hoped that 1% of the company's capital will be held by employees.
“We created the YES plan to strengthen the ties between Prysmian and its people,” continued Mr. Battista. “And we have succeeded. Now, with a shared purpose and common vision, we are stronger together. I believe Prysmian has a bright and successful future ahead, and you are a big part of that. By saying YES again, we will be even stronger tomorrow.”
[*] the Group countries not included in the Plan are Argentina, China, Indonesia, Ivory Coast, New Zealand, Philippines and Tunisia, due to their respective local legislation.
[**] these figures may vary according to specific local modifications required for Plan implementation.