Shares for SPD staff
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THE NATIONAL Freight Consortium's latest drive for more employee shareholders has attracted 40 per cent of the workforce at SPD, the distribution company taken over from Unilever in January.
Its latest shares drive, following the NFC's annual general meeting in February, has attracted 3,189 additional shareholders, and takes employee shareholding close to 60 per cent of the 25,00 0-strong workforce.
In their first opportunity to buy NFC shares, 1,076 SPD employees and their immediate families bought shares, as did 1,776 NFC employees who had no shares before, 220 new employees and their families, and 117 employed by Merchants Home Delivery Service, the United States business acquired last summer.
Although this means that 64 per cent of Merchants' employees now hold shares, another 300 owner-drivers working permanently for the company are still not entitled to buy shares.
The shareholders at February's agm voted against such a move, although it is likely that a revised proposal, restricting owner-driver shareholding to NFC's overseas businesses, will be put to shareholders next year.
This latest drive for wider share ownership was backed by £200 interest-free loans made available to first time buyers.