In a speech given to shareholders at the Ladbrokes Plc AGM on 26 May, Chief Executive Officer Christopher Bell said, “The most important asset your company has is its people – particularly the 12,000 frontline people who work in our shops who are among the best in the industry. Over the last two years they’ve won several of the coveted “WOW” National Service Awards, beating many major household names to the highly prized accolade of best in customer service.”

These 12,000 employees are now to receive free shares as a reward for the company’s success. Those working over 30 hours a week will be given shares to the value of £250 (US$460); between 20 and 30 hours shares worth £200 (US$368) and those working under 20 hours will get £100 (US$184). The members of staff will be able to sell their shares after holding them for three years, although if they hold them for five years the sale would be tax free.

Ladbrokes, which started in the village of Ladbroke in the English Midlands, celebrates its 120th anniversary this month. It now employs people in the UK, Ireland, Belgium, Jersey and Gibraltar. The gift of shares is to give staff a stake in the future of the company as well as in recognition of their contribution to the company’s success. Ladbrokes shares are presently trading at 389.5p (up 9.25p).
(E-06.09.06)

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