Kingfisher is launching an all-colleague share plan and every one of the 77.000 employees will be given the opportunity to become shareholders.
The new plan will mean every share bought by a employee will be matched by Kingfisher on a one-for-one basis.
The minimum monthly contribution will be £10, with a maximum total contribution limited to £1.500.
The plan is open to all Kingfisher colleagues employed in September 2020 and participants can register for the plan between October and November 2020.
Participants can choose to contribute anything between £10 and £250 a month (or the equivalent value in local currency). Contributions will be made for six months between January 2021 to July 2021.
The shares will be bought in July 2021.
After a vesting period of one year (in July 2022), participants can choose to keep or sell their purchased and matching shares.
Participants will receive dividends accrued during the vesting period. These are automatically reinvested into shares.
Participants can sell their purchased shares before the end of the vesting period, but they will not receive their matching shares if they do.