Asda staff to benefit from a share ownership scheme

More
than 11,000 Asda staff are set to benefit from a share ownership scheme, after
sales grew by 11 per cent.

About
2,700 staff will gain shares worth £13m from the scheme they joined in 1997,
while another 8,800 will gain £1.5m worth of free shares through the
supermarket chain’s Colleague Share Ownership Plan.

Staff
can save between £5 and £35 each month and at the end of the savings period,
they earn a tax-free bonus which can be used to buy shares in the parent
company Wal-Mart, at a 20 per cent discount.

Wal-Mart’s
current stock price means that workers saving an average of £30 a month for the
last five years will double their investment and pocket £5,000.

By Ross Wigham

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