Domino’s gives staff shares option

dominos-cheltenhamPizza chain, Domino’s, has implemented an employee share acquisition plan that allows employees to make contributions from their pre-tax salary to acquire fully paid ordinary shares in the company.

Under the plan, eligible employees had the opportunity to contribute between $1000 and $5000 of their pre-tax wages towards the purchase of shares in each of the 2017 and 2018 financial years.

Shares will be allocated monthly, commencing this month and ending in June 2018 at which point the shares will either be acquired or Domino’s will issue new shares.

The plan is not subject to shareholder approval, with the pizza chain saying no approval will be sought for the issue of the shares as it’s not required under ASX listing rules.

The number of shares allocated to employees in the scheme will be calculated as the maximum whole number of shares that can be acquired up to the value of the relevant participation amount, based on the market price of shares on the monthly allocation date, expected to be the 15th of each month.

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