Argos staff share £5.9m as share scheme matures

Argos
employees across the UK will benefit from a potential pay-out of £5.9m
following the maturity of the first share purchase scheme run by the store’s
parent company GUS plc.

Under
the terms of the company’s Sharesave Scheme, which was first introduced in
2001, employees can buy shares in GUS at a 20 per cent discount using a
tax-free savings account. Employees can save between £5 and £250 per month for
three or five years.

At
the end of the savings period members have the option of using all of their savings
and bonus to buy the GUS shares at a discount or  taking all of their savings and bonus in cash.

Store
staff, delivery drivers and managers are among the 2,200 staff who will
benefit, with an average profit per employee of £2,590. Top investors will receive
more than £10,000.

Terry
Duddy, Argos Retail Group chief executive, said: "This payout is a tribute
to the hard work of our staff who continue to share in the success of the
business. The Sharesave Scheme is a safe and easy way for staff to save and
provides real rewards for all their efforts."

By Michael Millar

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