Save As You Earn 3 Year Maturity - Open now to make your choice - Equiniti Shareview
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Save As You Earn 3 Year Maturity Open now to make your choice.
Save As You Earn 3 Year Maturity
Dear Colleague
Save As You Earn (SAYE) is part of your total pay and
benefits package rewarding you for the great job you do.
It’s a great way for you to simply save money each month
or choose to buy shares in Tesco with your savings at the
end of the scheme.
The three year SAYE Scheme, which you joined in November
2013 with the Option Price of £3.22, has reached its end.
The benefit of SAYE is that your savings are protected which
means that as the current share price is below the Option
Price, you can still get back what you’ve paid in or elect to
buy shares at the full market price.
So what you need to do is choose one of these two options:
Choice Choice
1 Buy shares at the
market price 2 Take your savings
as cash
You have until 31 July 2017 to choose the
best option for you.
If you don’t tell us what you want to do, your total savings
will automatically be repaid to you six months from the
end of your scheme (shown on your email).
2
3
Save As You Earn 3 Year Maturity
Your Choices
Choice Buy shares at the market price
If you want to do this you need to take action by 6pm on 31 July 2017.
1 You can use all of your savings to buy Tesco shares at the market price
at the time your instruction is processed (see page eight).
There are two ways you can hold your shares:
a) electronically in the Tesco Share Account which makes handling
your shares easier and more convenient with lower dealing rates; or
b) receive a paper share certificate sent to your home address.
Things you should consider:
• Dealing charges of 1% (minimum £15) of the total value and 0.5%
Stamp Duty will apply should you want to purchase shares.
• If the Tesco share price on the day your instruction is processed is
higher than the Option Price of £3.22, your savings will be used to
buy shares at the lower Option Price of £3.22.
If you want to buy shares at the market price at the earliest
opportunity, you need to give your instruction by 6pm on
Tuesday 24 January 2017.
Choice Take your savings as cash
• You can simply take all your savings in full as cash.
2 • Your savings will be repaid to you by BACS to the same bank account
into which you receive your Tesco pay.
If you want to have your cash repaid at the earliest opportunity you
need to give your instruction by 6pm on Monday 30 January 2017.
More information on when you will receive your cash or shares
can be found on page eight.
emember that the Equiniti Share Purchase Facility is only available
R
until 6pm on 31 July 2017. If the share price recovers you will still
have the option to buy shares at the Option Price of £3.22 up until
six months after your Scheme End Date shown on your email.
4
What happens if I do nothing?
Your total savings will automatically be repaid to you six months after your Scheme End
Date into the same bank account into which you receive your Tesco pay.
Tesco Share Account Tesco Bank Current Account
Tesco Share Account allows This year we’ve arranged with Tesco Bank a service to
you to hold and manage help you find out more information on how to open a
your shares electronically Tesco Bank Current Account. If you are interested, you
with no risk of losing your can send a text to:
share certificates. 84247** (or +44 7624808299 if sending from outside
It also offers access to the UK)
lower dealing rates and up Your text message must include the below with a
to date market information. space between each piece of information:
It’s free to join and • TescoBank
there are no annual fees
• Your 8 digit employee number
(although there is a £10
(including leading zeros if applicable)
admin fee to leave).
• Date of Birth (to be entered DDMMYYYY)
For more information
about this service provided • Yes
by Equiniti Financial For Example:
Services Limited please TescoBank 12345678 01011980 yes
read the Tesco Share In response, you’ll receive a text message with details of
Account Employee Guide where to access information and how to apply for a Tesco
that can be located in the Bank Current Account.
Useful Links section on This text service is offered to you by Tesco Bank and is available until 31
www.shareview.co.uk/ July 2017. Any mobile numbers captured under the text service will not be
tesco or call the Tesco used by Tesco Bank for any other marketing purposes.
Shareholder Helpline on Tesco Bank Current Accounts are available to people aged 18 and over and
0371 384 2977* to transfer are subject to status.
your share certificates Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in
into the Tesco Share Scotland No SC173199. Registered office: Interpoint Buildings, 22 Haymarket
Yards, Edinburgh, EH12 5BH.
Account.
**Texts will be charged at your standard network rate.
Tesco Share Account For any more information contact Equiniti Limited (‘Equiniti’) on
Handling shares 0371 384 2976 (or +44 121 415 7119 if calling from outside of the UK). * Calls
made simple! to 03 numbers cost no more than a national rate call to 01 or 02 numbers.
Lines are open 8.30am to 5.30pm (UK time), Monday to Friday (excluding
public holidays in England and Wales).
5
Save As You Earn 3 Year Maturity
Choose from
3 simple ways to
make your choice:
The online, telephone and text services open at 9am on 13 January 2017.
You will need your employee number (shown on your payslip) and your date of birth.
1 2
Call 0371 384 2976* Visit www.shareview.co.uk/tesco
(or +44 121 415 7119 from outside the UK) and and follow the on-screen instructions.
follow the instructions. The call should take no Once you have submitted your choice you will
more than three minutes and can be made at see a confirmation page. Please review and
any time of the day. At the end of the call you’ll print or save this page. You will also receive
need to make a note of your reference number. an email notification confirming your choice.
Terms and Conditions for this Service
The Terms and Conditions covering the Maturity Service, the Market Purchase facility and the Tesco Share Account
can be found at www.shareview.co.uk/tesco. For your own benefit you should read these carefully before giving an
instruction as they form the basis on which services will be provided to you by Equiniti Financial Services Limited.
If you do not understand any point or require them in an alternative format such as paper, braille or audio please
call 0371 384 2976 *(or +44 121 415 7119 if calling from outside the UK). Lines are open 8.30am to 5.30pm (UK time),
Monday to Friday (excluding public holidays in England and Wales). Both services are offered to you by Equiniti
Financial Services Limited.
IMPORTANT: You must be aged 18 or over and resident in the EEA (including the UK), Isle of Man, Channel Islands,
Switzerland or Gibraltar in order to hold shares in the Tesco Share Account.
*Calls to 03 numbers cost no more than a national rate call to 01 or 02 numbers.
**Texts will be charged at your standard network rate.
63
Text 84247** (or +44 7624808299 if sending from outside the UK)
The text message needs to be laid out in a specific way and include the below with
a space between each piece of information:
• Tescomat For Example: If you want to purchase shares
• Your 8 digit employee number (including and hold them in the Tesco Share Account
leading zeros if applicable) (in accordance with the Tesco Share
Account Terms and Conditions):
• Date of Birth (to be entered DDMMYYYY)
Tescomat 12345678 01011980 2013 3 Purchase Y
• 2013
If you want to have a repayment of your
• 3 (as you are in the 3 year scheme)
cash savings:
• Purchase or Repay (depending on whether
Tescomat 12345678 01011980 2013 3 Repay
you want to purchase shares or have your
savings repaid to you) You’ll receive a text message back, confirming
your choice has been received along with a
• Y or N (‘Y’ for shares transferred into Tesco
reference number. You should save this
Share Account; ‘N’ to receive a paper share
message for future reference.
certificate. The Y or N is only applicable if
you select the Market Purchase facility)
7Save As You Earn 3 Year Maturity
When will I receive my shares or cash?
These dates explain how to get your shares or cash at the earliest opportunity:
Deadlines
6pm Tuesday 24 January 2017
Deadline to give your instruction for the first
market share purchase date.
6pm Monday 30 January 2017
Deadline to give your instruction for first repayment of savings.
Wednesday 1 February 2017
First market shares purchased.
Wednesday 1 February 2017
Savings requests processed and repayment sent by BACS.*
Tuesday 7 February 2017
Shares deposited into the Tesco Share Account (TSA).
Wednesday 22 February 2017
If you are purchasing shares in the TSA for the first time an opening
statement will be issued to you within fifteen working days of the shares
being purchased. This will contain your Shareholder Reference which
you will need if you wish to trade your shares in the future.
Wednesday 22 February 2017
Share certificates posted for market shares purchased
on 1 February 2017.
The next cut-off date is 6pm Friday 27 January 2017 with instructions processed on
Thursday 2 February 2017.
Thereafter, requests will be processed on a weekly basis with requests processed each
Thursday for any instructions made by 6pm on the Friday of the previous week. Shares
will reach the TSA within five working days from date of purchase.
Share certificates from the Share Purchase facility will be posted to your home address
within three weeks of the purchase date.
If you do nothing your savings will automatically be repaid to you six months after your
Scheme End Date, shown on your email.
*Savings repaid by BACS will take up to 3 working days to show in your bank account.
82013 3 Year Statement
ESP Portal activation code
N/A
Scheme Start Date
This statement sets out details of an example 2013
Save As You Earn scheme. The choices available to 01-FEB-14
you, now that you have reached the end of your
scheme are explained on page four of this booklet. Scheme End Date
If you have missed any payments, your Scheme End Date will be delayed 01-FEB-17
by one month for each four-weekly payment you have missed and the
Scheme End Date shown on your email will reflect this. Number Of Share Options
Details of an example SAYE account, together with the amount 559
repayable, are shown below:
Monthly savings (£) Total saved (£) Total payable (£)
50.00 1800.00 1800.00
The number of shares you can buy at the Option Price of £3.22 are shown below:
This option is only available if the Tesco share price is higher than the Option Price.
Last date to buy shares
Option Price (pence) Share options held
at the Option Price*
322.00 559 31-JUL-17
Here’s an example of how many Tesco shares you could purchase using your savings held at an
example share price of £2.20**
Total funds available for a No. of shares that could be
Share Purchase purchased at £2.20**
1800.00 818
*Please note if you have recently left Tesco employment you only have six months from your original date of leaving to make your
choice.
**£2.20 is an example share price, and the number of shares shown does not include any deductions for dealing costs, the actual
number of shares you can purchase will be based on the Tesco share price on the day your instruction is processed.
Please note that in accordance with the Sharesave (SAYE) Prospectus issued by HM Revenue and Customs (‘HMRC’), your savings will
attract no interest after the maturity date shown above. Lloyds Bank plc does not act as agent, arranger or advisor in relation to
exercising your option to buy shares.
Thank you for saving with Lloyds Bank plc. If you have any queries about your SAYE account or require more information, please contact
Equiniti on 0371 384 2976.
Textel/Minicom Service number 0371 384 2255. Calls to 03 numbers cost no more than a national rate call to 01 or 02 numbers.
Lines are open 8.30am to 5.30pm (UK time), Monday to Friday, excluding public holidays in England and Wales. Lloyds Bank plc is
authorised by the Prudential Regulation Authority under registration number 119278 and regulated by the Financial Conduct
Authority and the Prudential Regulation Authority. Lloyds Bank plc Registered Office: 25 Gresham Street, London, EC2V 7HN,
United Kingdom. Registered in England and Wales no. 2065. Deposits with Lloyds Bank plc fall under the Financial Services
Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. We make available to you an
information sheet and exclusions list every year. You may be entitled to compensation from the scheme if Lloyds Bank plc cannot
meet their obligations. For more information call their Helpline on 0207 741 4100 or 0800 678 1100, log onto their website at
www.fscs.org.uk or write to the Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St Botolph Street, London,
EC3A 7QU United Kingdom. To ensure security for customers and staff and help us maintain a quality service, telephone calls may
be recorded or monitored.
Equiniti Limited and Equiniti Financial Services Limited are part of the Equiniti Group. Their registered offices are Aspect House,
Spencer Road, Lancing, West Sussex, BN99 6DA, United Kingdom. Company share registration, employee scheme and pension
administration services are provided through Equiniti Limited, which is registered in England and Wales with No. 6226088. Investment
and general insurance services are provided through Equiniti Financial Services Limited, which is registered in England & Wales with
No. 6208699 and is authorised and regulated by the UK Financial Conduct Authority No. 468631.
9Save As You Earn 3 Year Maturity
Questions & Answers
How will my savings be What are the costs for the Tesco have negotiated a sales
repaid? share purchase facility? facility covering certificated
Equiniti will arrange to send We have negotiated shares with Equiniti Financial
your money to you by BACS preferential dealing rates Services Limited and details
to the same bank account into with Equiniti Financial Services of this facility will be sent with
which you receive your Tesco Limited as follows: your share certificate.
pay. There is no charge to have •D
ealing charge of 1%, If you have chosen to buy
your savings repaid to you. minimum £15. shares and hold them in the
•A
dditional Stamp Duty Tesco Share Account and you
What happens if the share Reserve Tax charge of 0.5%. do not already hold shares in
price recovers to the original the Tesco Share Account, a
Charges, including stamp duty,
Option Price? new holding will be created for
will automatically be deducted
If you have chosen to buy you and an Opening Statement
by Equiniti when the shares are
shares at the market price will be issued to you giving you
bought.
and the Tesco share price details of the shares you hold.
on the day your instruction Any money left over from the
is processed has recovered share purchase that is not Details on how to sell your
and is above the Option Price sufficient to purchase one shares through Equiniti
of £3.22, the share purchase share and the associated Financial Services Limited
facility will not be actioned costs will be returned to you. along with your Shareholder
and you will have your savings For example; Reference will be included
used to buy shares at the on your Tesco Share Account
£50 savings per four-weekly
Option Price of £3.22. opening or annual statement.
pay period = total savings of
If you have chosen to have £1,800 so dealing costs are:
your savings repaid and the What is Scheme End Date?
£1,800 X 1% = £18 dealing fees +
share price recovers within The Scheme End Date also
£1,800 X 0.5% = £9 stamp duty
six months of your Scheme known as ‘Maturity Date’ is
= total dealing costs of £27.
End Date shown on your email shown on your email.
you can still buy shares at the This is the date your scheme
Option Price by calling Equiniti How do I sell my shares in completes and when you
on 0371 384 2976*. the future? can buy shares or have your
If you have chosen to buy savings repaid to you.
The final date to submit your
shares and you requested a
request to use the Share
share certificate you will be
Purchase Facility is 6pm What happens if I have missed
sent a share certificate in the
on 31 July 2017. any payments?
post which you should keep in
a safe place as you will need it For every payment missed,
How do I know what the when you sell your shares. the Scheme End Date of your
current share price is? scheme will be delayed and
You may sell your shares (for
The Tesco share price can be you will continue to have
a fee) whenever you like by
found at www.tescoplc.com. deductions taken from your
using a share dealing service
pay until you have completed
available through most banks
your savings scheme. Your
Will I get a tax-free bonus? or building societies.
email will show your Scheme
There is no tax-free bonus You can also sell shares via End Date.
payable on this scheme. The the internet or by contacting a
tax-free bonus rates for SAYE stockbroker directly.
are set by HM Revenue and
Customs.
10Can I transfer my savings into Scheme End Date shown may get back less than the
a new SAYE scheme? on your email. The option amount you invested. Past
No, the scheme rules do not to buy shares at the market performance is not a guide to
allow you to transfer your share price at the time your future performance.
savings from this scheme to instruction is processed is only Neither Tesco PLC or Equiniti
the new scheme. available until 31 July 2017. Financial Services Limited
Six months after your Scheme provide advice or make
What tax will I pay? End Date your savings will recommendations about
Your savings were taken from automatically be repaid to you investments. If you have any
your pay after Income Tax and and you will not be able to buy doubts about the suitability
National Insurance have been shares at the Option Price. of an investment, you
deducted, so you will not pay Your total savings will be paid should seek advice from an
any more tax when you have by BACS to the same bank authorised financial adviser.
your savings repaid. account into which you receive
your Tesco pay.
If you decide to buy Tesco How do I find out more?
shares you may have to pay If you need more information
Capital Gains Tax (CGT) when Are there any risks? about your Save As You
you come to sell your shares There is no risk in having your Earn scheme please call the
if your total gains for the tax savings repaid to you and there Equiniti helpline on 0371 384
year exceeds the capital gains will be no charge to have your 2976* (or +44 121 415 7119 if
exemption (£11,100 for 2016/17 savings refunded in full. calling outside of the United
tax year). If you want to know If you purchased shares Kingdom), 8.30am to 5.30pm
more about this, you should the price and value of any (UK time), Monday to Friday
contact an authorised investments and any income (excluding public holidays in
financial adviser. from them can fluctuate and England and Wales).
may fall. Therefore, you *Calls to 03 numbers cost no more
What happens if I do nothing? than a national rate call to 01 or 02
numbers.
Your option to buy shares at
the Option Price of £3.22 will
lapse six months after your
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