SHARESAVE MATURITY 2020 - Bunzl plc - YBS Share Plans
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SHARESAVE MATURITY 2020 Bunzl plc
Congratulations, your
Sharesave account is
maturing soon
I am pleased to confirm that your Bunzl plc Sharesave
account will mature on 1 May 2020 (assuming that all
payments have been received by YBS Share Plans).
2015 - 5 year account option price £15.36 2017 - 3 year account option price £18.68
In this pack you will find everything you need to If you wish to buy Bunzl plc shares It is your responsibility to monitor the
know about your maturing Sharesave account, on the first available date in May price of a Bunzl plc ordinary share before
the choices available to you and how to provide 2020, YBS Share Plans must deciding whether or not to buy any shares.
your instruction to YBS Share Plans. receive your maturity instruction Please ensure you read all of the
You now need to tell us what you would like to do with the no later than 27 April 2020. enclosed information before making
savings in your account. Your choices, in brief, are as follows:- your decision. If you need any further
You do not have to make your decision
information or assistance, please call
straight away as you will have six months
the YBS Share Plans helpline on
A Buy your Bunzl plc shares at the applicable option price from 1 May 2020 (the “Maturity Date”)
0345 1 200 300 (lines are open Monday
(shown above) and receive a share certificate; and/or to make a decision. After this time, your
to Friday 9.00am to 5:00pm and
option to buy shares at the fixed option
Saturday 9:00am to 1:00pm excluding
price will lapse.
public holidays in England and Wales).
Buy your Bunzl plc shares at the applicable option price
You can log in to your account to check
B (shown above) and sell them at the first available
opportunity at the current market price; and/or
your current savings balance, as well as
Please note that YBS Share Plans
will not be able to advise you on the
the maximum number of shares that you
best course of action for you in your
are able to buy at the option price that was
particular circumstances. If you are
Buy your Bunzl plc shares at the applicable fixed at the time you were invited to join
unsure about buying shares or your
C option price (shown above) and transfer them to
your spouse/civil partner and receive a share
the Bunzl plc Sharesave Scheme (2011).
For your convenience, a maturity share
tax position, you should consult an
certificate in their name; and/or Independent Financial Adviser.
dealing service is being provided by Jarvis
Investment Management Limited (“Jarvis”),
Buy your Bunzl plc shares at the applicable option which will allow you to sell some or all of
D price (shown above) and transfer them to your
spouse/civil partner and sell them (this choice is only
your shares if you decide to exercise your
option and buy shares at maturity. Full
available by returning the applicable forms). details about the share dealing service
being provided by Jarvis can be found
Alternatively, you may close your account and receive a within the documents that are available to
refund of your savings and not buy any shares. To do this, view on the YBS Share Plans website.
please see the section on how to request a refund of your
savings on page 4 of this brochure.
1
YOUR CHOICES EXPLAINED
I would like to buy some or all of my shares and SELL them
A I would like to buy and KEEP some or all of my
shares in the form of a share certificate
B using the maturity share dealing service being offered by
Jarvis
If you select this choice, you will be using the savings in your Sharesave If you select this choice, you will be using the savings in your Sharesave account to
account to buy the Bunzl plc shares to which you are entitled and keep buy the Bunzl plc shares to which you are entitled and to sell some or all of them
them in the form of a share certificate, otherwise known as ‘exercising using the maturity share dealing service being provided by Jarvis.
your option’.
Jarvis will charge you a flat fee of £18.00 for the sale of your shares of which YBS Share
When your share certificate arrives, you can either hold on to the shares or sell Plans will receive £10.10 to cover their administration costs. This will be deducted from
the shares. You may use any stockbroker of your choosing to sell the shares. your sale proceeds before the balance is paid directly into the bank account specified on
If you retain the shares, as a shareholder of Bunzl plc (the “Company”), you will the Sale Request Form or online. Jarvis do not offer cheque settlement.
be entitled to receive dividends (if and when they are paid) and have the chance Jarvis will release your sale proceeds three business days after the date your shares are
to vote on important issues at General Meetings of the Company. sold and the money should be in your account another two to three business days after
The exercise of a share option is an involved process and therefore it may take this. A contract note confirming details of the sale will be posted to the address provided
some time for YBS Share Plans to complete this process with the Company and with your instruction.
their share registrar. YBS Share Plans cannot be held responsible for any adverse The sale of your shares will be subject to the Jarvis Sale Facility Terms and Conditions.
movements in the price of a Bunzl plc ordinary share during this period. Please take the time to read this document before proceeding with this choice.
Once the share option exercise process is complete, the Company’s registrar will If you would prefer to sell your shares via another broker of your own choosing, please
issue you with a share certificate in your name. Please allow up to 30 days from follow the instructions under choice A and make your own arrangements to sell your shares
the completion of the exercise process to receive your share certificate. on receipt of your share certificate.
Selling your shares at a later date
If you want to buy and keep your shares (see choice A) with a view to selling them
at a later date, you can do so by making your own private arrangements with a
broker of your choosing on receipt of your share certificate.
2
YOUR CHOICES EXPLAINED
I would like to buy some or all of my shares and transfer
C them to my spouse/civil partner to KEEP in the form of a
share certificate
D I would like to buy some or all of my shares and transfer them to my
spouse/civil partner for them to SELL*
If you select this choice you will be using the savings in your If you select this choice you will be using the savings in your Sharesave
Sharesave account to buy the Bunzl plc shares to which you account to buy the Bunzl plc shares to which you are entitled and transferring
are entitled and transferring some or all of them to your some or all of them to your spouse/civil partner for them to sell using the
spouse/civil partner for them to keep. maturity share dealing service which is being provided by Jarvis (see choice B).
You may wish to select choice C or D to reduce (and possibly eliminate) your Capital
Gains Tax (“CGT”) liability. This is because both you and your spouse/civil partner are
each entitled to your own CGT annual exemption (see the ‘What about tax?’ section
for more information).
*You can only make this choice by post.
3
YOUR CHOICES EXPLAINED
Residual balance
If you decide to buy the Bunzl plc shares there will often be
a small cash residue remaining in your Sharesave account.
This is because it is very unlikely that your savings will divide
exactly by the fixed option price. You can choose to donate
your cash residue to charity (no greater than the value of
one share at the fixed option price) or receive a refund of the
residue when providing your instruction. If you would like to
donate this money to charity (Yorkshire Building Society’s
Charitable Foundation), please tick the appropriate box when
instructing online.
To find out more about the work of the Charitable Foundation,
visit www.ybs.co.uk.
You do not have to purchase Bunzl plc
shares. If you prefer, you can simply
request a refund of your savings
For this choice please follow the steps to access your online
account on the ‘made up your mind?’ page. After clicking on
‘Closure Options’ select ‘Return of savings’ and follow the on-
screen instructions. Your savings will be returned to your bank
account.
If you choose to close your account and take back your
savings, you still retain the right to purchase shares at the
fixed option price during the six months immediately following
the Maturity Date.
4
WHEN WILL I GET MY CASH OR SHARES?
Deadline for receipt YBS Share Plans close your Approximate date shares
of keep or sell Sharesave account and will be sold by Jarvis
instructions at YBS transfer balance to Bunzl (“Dealing Date”)*
Share Plans plc to cover cost of shares
This all depends on the date you provide your
instruction to YBS Share Plans. The sooner you Batch 1 27 April 2020 1 May 2020 1 May 2020
provide your instruction, the sooner you should Batch 2 29 April 2020 4 May 2020 4 May 2020
receive your shares or cash.
Batch 3 5 May 2020 11 May 2020 11 May 2020
• The table opposite clarifies when YBS Share Plans need to receive your
instruction in order to be included in the first four weekly batches when Batch 4 13 May 2020 18 May 2020 18 May 2020
your Sharesave account will be closed and if applicable, when the sale of
your shares is scheduled to take place and the sale proceeds transferred
to you. *Jarvis will usually release your sale proceeds three business days after the date your shares are sold
(provided they have received settlement from the market) and the money should be in your account
• You will need to provide your instruction to YBS Share Plans no later than another two to three business days after this. Where late settlement occurs, there may be a delay in
27 April 2020 to be included in the first batch. There are three further transferring your sale proceeds for which Jarvis will not be held accountable. A contract note confirming
details of the sale will be posted to the address provided with your instruction.
batches shown in the timetable opposite.
Sale dates quoted in the table above are the dates Jarvis are expected to sell shares but please note
• After the dates advertised opposite, instructions will be processed all dates are subject to change. Neither YBS Share Plans nor Bunzl plc can be held responsible for
weekly for the remainder of the six month period in which you are any changes to advertised dates which are outside of their control or any resulting loss.
entitled to buy the shares. The cut-off for receipt of instructions is every
Wednesday, with the sale taking place the following Monday (these
dates may vary around bank holidays). If you choose to buy and keep the
Please note, if you are not already registered, you will need to register
shares, you should allow 30 days from the date YBS Share Plans close to access your account online before you can submit your instruction.
your account and transfer the balance to the Company for receipt of your Your login details will be sent to you by post. It will take several days to
share certificate. complete the registration process and therefore if you are intending to
sell your shares or receive a share certificate at the earliest opportunity
following maturity, you should allow sufficient time to complete the
registration in order to meet the deadline of 27 April 2020 for inclusion
in the first batch. For more information please refer to the ‘Made up
your mind’ section.
5
IMPORTANT INFORMATION
DEALING RESTRICTIONS option, you may not be able to buy your
shares. This will depend on your reason If your total capital gains exceed the annual
• If you have been notified by the
for leaving and the date on which you left. exemption amount in any single tax year, they
Company that you are subject to share
If you are in any doubt about whether you should be reported to HMRC, whether you
dealing rules, you must comply with the
can buy any shares please contact the receive a tax return or not. You may however
requirements imposed by the Company
YBS Share Plans helpline on 0345 1200 be able to minimise your liability to CGT by:
and if applicable, seek clearance before
300. If you are able to buy shares, you
proceeding with any transaction. All staff • selling some of your shares in one tax year
must do so within six months of leaving
are subject to the law regarding market and the rest in other tax years;
the Group or within six months of the
abuse e.g. dealing when in possession of • by giving some of your shares to your
Maturity Date, whichever event comes
inside information. spouse or civil partner for them to sell and
first.
set against their annual CGT exemption; or
MISSED ANY PAYMENTS OR
WHAT ABOUT TAX? • by transferring shares into a Stocks and
LEAVING THE COMPANY? Shares ISA (“ISA”) (subject to applicable
• Under current legislation there is no
• If you have missed any payments during limits) within 90 days of the date your share
income tax to pay as a result of buying
the savings period (up to a maximum option was exercised.
your shares or taking your savings. You
of twelve), your Maturity Date will
may however have to pay CGT if you The sale of shares within an ISA is free of CGT.
be deferred by one month for every
sell your shares at a profit (this is the For the 2020/2021 tax year the maximum
payment that you have missed and you
difference between the cost of buying value of shares you can transfer into an ISA is
will continue to have deductions taken
your shares and the price you sell them £20,000. The value of the shares will be based
from your pay until you have completed
for, minus any sale expenses). Her on the market value on the date the shares are
the three or five year savings contract.
Majesty’s Revenue & Customs (“HMRC”) transferred into the ISA.
In these circumstances you will have
currently allows you to make a certain If you would like to follow any of the courses
six months from the deferred Maturity
level of capital gains in each tax year of action described above then you will
Date (shown on your online account) to
without being taxed. have to choose to receive a share certificate
exercise your option and buy your shares.
Any instruction received in respect of a If your gain (which must include any (choice A) and make your own private
deferred maturity will be processed at the other profit you have made within the tax arrangements on receipt. If you want to
first available opportunity following your year) exceeds the annual exemption limit, transfer your shares to an ISA you’ll need a
deferred Maturity Date. you will have to pay tax on any gain above letter of appropriation from YBS Share Plans
this limit. to confirm the shares are being transferred
If you are no longer an employee of Bunzl
The CGT limit for the 2020/2021 tax from a Sharesave account within the 90 day
plc or one of its subsidiaries (together the
year is £12,300. Further information can period permitted. You will need to forward
“Group”) or if you leave after the Maturity
be found on the HMRC website this to your chosen ISA provider, together
Date but before you have exercised your
(www.hmrc.gov.uk). with your share certificate.
6
MADE UP YOUR MIND?
Once you have decided what you would like to do,
you need to submit your instruction by using the
secure online facility provided by YBS Share Plans.
Online instructions
• Once you have made your decision, please submit your maturity
instruction using the secure online facility provided by YBS Share
Plans by visiting www.ybsshareplans.co.uk/bunzl. You will need
to register to view your account online before you are able to provide
your instruction (unless you have already registered). You will need your
Sharesave account number to hand and will be asked to provide some
security information. Registration will only take a few minutes of your
time. Once registered, your login details will be sent to you through the
post and you will then be able to provide your instruction.
• Once you have logged in you will need to select the maturing
Sharesave account in the account view section (please make
sure the account has an open date of 1 May 2015 and/or 2017), click
on ‘Closure Options’, make your choice and then follow the onscreen
instructions to complete the process. You will receive an email
confirmation once you have successfully submitted your instruction.
• Please note you cannot sell shares in your spouse or civil partner’s
name. If you want to sell some or all of your shares in your spouse
or civil partner’s name you must provide your instruction by printing a
Maturity Instruction Form from the YBS Share Plans website and post
this to the address quoted on the form. YBS Share Plans will use an
electronic system to verify your identity when you provide your maturity
instruction online. For further details about this and how to provide
your instruction, please refer to the ‘Online Instructions Guide’ at
www.ybsshareplans.co.uk/bunzl.
If you change your mind after you have submitted your instruction,
please call the YBS Share Plans helpline in the first instance on 0345
1200 300. Any change to your original instruction is likely to delay the
date on which your instruction can be processed and will therefore
delay receipt of your cash or shares. Further details will be provided at
the time of calling.
7
CONTACT DETAILS
YBS Share Plans Jarvis
The Bunzl plc Sharesave Scheme (2011) is administered If you have any queries about the sale of your shares or the
by YBS Share Plans. If you have any queries about your services offered by Jarvis, you can contact them directly at:
Sharesave account, you may contact them at: Jarvis Investment Management Limited, 78 Mount
YBS Share Plans, Yorkshire Building Society, Yorkshire Ephraim, Tunbridge Wells, Kent, TN4 8BS; or
House, Yorkshire Drive, Bradford, BD5 8LJ; or by calling 01892 700841
by calling the YBS Share Plans helpline on Lines are open Monday to Friday 8.00am to 4.30pm. Calls may be
recorded for training and security purposes.
0345 1 200 300
Jarvis Investment Management Limited is a member of the London
Lines are open Monday to Friday 9:00am to 5:00pm and Saturday
Stock Exchange and NEX Exchange and is authorised and is regulated by
9:00am to 1:00pm excluding public holidays in England and Wales.
the Financial Conduct Authority. Registered Office: 78 Mount Ephraim,
Tunbridge Wells, Kent, TN4 8BS. Registered No. 1844601 England.
Registered VAT No. 680 0400 74.
GENERAL INFORMATION
In the event that YBS Share Plans receive your instruction to buy If you are in any doubt as to the legal, financial or taxation
and keep or sell the shares and the price of a Bunzl plc ordinary implications (including any CGT considerations and the collection
share is lower than the option price at the time of closure, then of such taxes) for you of the exercise of your option, and/or
YBS Share Plans reserve the right to cancel your instruction, close the subsequent sale of shares, or the suitability of the maturity
your Sharesave account and return your savings to you. In these share dealing service, you should seek the advice of a qualified
circumstances your option remains exercisable for a period of six Independent Financial Adviser duly authorised under the Financial
months from your Maturity Date. Services and Markets Act 2000.
No information contained within this document or any Please remember, the price of shares and the income from them
accompanying document should be taken as providing any advice can go down as well as up and that you may not recover the
or as a recommendation to exercise or not to exercise your option amount originally invested.
or, having exercised, to sell or not to sell your shares, the choice is It is advisable to keep copies of all documentation sent to YBS
yours. Neither the Company, YBS Share Plans nor Jarvis can advise Share Plans and the Company in relation to the exercise of
you on the best course of action in your particular circumstances. your option as you may need to refer to this information when
Tax rules and legislation can change. Tax relief, as referred to in this completing future tax returns.
document, are those currently available to date and will depend
upon your individual circumstances.
YBS Share Plans is part of Yorkshire Building Society. YBS Share Plans, Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Tel: 0345 1 200 300. Fax: 01274 357 950. ybsshareplans.co.uk.
YBM 7605 12 03 20
Yorkshire Building Society provides share plan trustee administration services, including deposit taking , all of which are subject to English law, with deposit taking being regulated by the Financial Conduct Authority. The provision
of share plan trustee and administration services is not regulated by the Financial Conduct Authority. We are not responsible for share plan deposits held by local savings carriers outside the UK.
Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Yorkshire Building Society is entered in the Financial Services Register under registration number 106085. Head Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.
Yorkshire Building Society is a member of the Financial Ombudsman Service. Further details are available on request from the Society.
All communications with Yorkshire Building Society may be monitored/recorded to improve the quality of their service and for your protection and security. Calls to 03 numbers are charged at the same standard network rate as 01
or 02 landline numbers, even when calling from a mobile.
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