Time to make your choice - Save As You Earn 2013 - 5 Year Maturity - Equiniti Shareview
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Save As You Earn 2013 – 5 Year Maturity Time to make your choice.
SAYE 2013 –
5 Year Maturity
You have until
31 July 2019
to make your
choice
Dear [Name],
The 5 year Save As You Earn (SAYE) Scheme, which you joined in
November 2013 with the Option Price of £3.22, is reaching its end.
SAYE is one of our most popular benefits and forms an important part of our
overall benefits plan to help make Tesco a great place to work.
Although the current Tesco share price is below the Option Price, your SAYE
savings are protected. This means you can still get back what you’ve paid in.
What you need to do next:
Please read this booklet and decide between Choice One or Choice Two. Let us know
the option you have chosen by telephone or online from 9am on 11 January 2019.
Choice One Choice Two
Take your savings Do nothing and hold
as cash savings for an additional
two years to receive an
additional bonus*
* This is the default if you don’t make a choice via Equiniti.
2
What do I need to do?
Choice One Choice Two
Take your savings as cash Do nothing and hold savings
for an additional two years to
You can simply take all your savings and receive an additional bonus
bonus as cash. The bonus is 1 times
the amount you saved in one pay You can choose to keep your savings
period. Your savings will be repaid to with Barclays Bank UK PLC for an
you by cheque in Euros to your home additional two years. At the end of the
address. There is no charge for this. two year period you will receive your
If you want to have your cash repaid savings and five year bonus in full and an
at the earliest opportunity you will additional bonus of 1 times the amount
need to submit your instruction to you saved in one pay period.
Equiniti by 6pm on Friday 25 January You do not need to give an instruction
2019. Your repayment will be sent for Choice Two as by doing nothing your
by cheque to your home address on savings will automatically be held for an
Friday 1 February. additional two years.
Thereafter, any requests for
repayment received will be actioned
within 5 working days.
What happens if I do nothing before 31 July 2019?
Your total savings and 5 year bonus will automatically be held by Barclays Bank UK
PLC for an additional two years after the Scheme End Date. At the end of the two
year period you will receive an additional bonus of 1 times the amount you saved in
one pay period. During this time, you can still request to have your savings repaid
at any time.
Please note: If you wish to exercise your share options, you will need to contact
the Equiniti helpline on +44 121 415 0266 for more information. They will issue you
with an exercise form to be returned by post. Please note the exercise choice is
not available via the online or telephone channels.
Remember: 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.
3
The online and
telephone services
open at 9am on
11 January 2019
Choose from
two simple ways You’ll need your Employee
Number (shown on your
to make your payslip) and your Date of Birth
choice…
Call Online
1890 812 730 www.shareview.co.uk/
clients/tescoireland
Call and follow the instructions. The
call should take no more than three Follow the on-screen instructions. If
minutes and can be made at any you’ve not yet registered for the Equiniti
time of the day. At the end of the call Employee Share Plans (ESP) Portal, you’ll
you’ll need to make a note of your need your activation code, which is
reference number. displayed on page 6.
Once you have submitted your choice
you will see a confirmation page. Please
review and print or save this page. You
will also receive an email notification of
your choice. Please make a note of your
reference number.
Terms and Conditions for this Service: The Terms and Conditions covering the Maturity Service can be found at www.
shareview.co.uk/clients/tescoireland. 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 please call +44 121 415 0266. Lines are open 8.30am to 5.30pm (UK time), Monday to Friday (excluding public holidays
in England and Wales).
4
These dates
When will explain how to
I receive my cash? get your cash at the
earliest opportunity:
Deadlines
6pm Friday 25 January 2019*
Deadline to give your instruction for
first repayment of savings.
Friday 1 February 2019
Savings requests processed and repayment
sent by cheque to your home address.
*Thereafter, any requests for repayment received will be actioned within 5 working days. Savings requests processed and
repayment sent by cheque to your home address in 5 working days.
If you do nothing your savings and 5 year bonus will automatically held by Barclays Bank UK PLC for an additional two years
after the Scheme End Date. At the end of the two year period you will receive an additional bonus of 1 times the amount you
saved in one pay period.
5ESP Portal Activation Code
SAYE 2013 -
5 Year Statement Scheme Start Date
This statement sets out details
Scheme End Date
of your Save As You Earn 2013
– 5 Year scheme. Number of Share Options
The choices available to you, now that you are
reaching the end of your scheme are explained on
page 3 of this booklet. PPS Number
If you have missed any payments, your Scheme End
Date will be delayed by one month for each four-
weekly payment you have missed and the Scheme End
Date shown to the right will reflect this.
Details of your SAYE account, together with the amount repayable, are shown below:
Monthly savings (€) Total saved (€) Bonus (€) Total payable (€)
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. If you
wish to exercise your share options, please contact Equiniti on +44 121 415 0266 and request
an exercise form.
Share Options Option Price Last date to buy shares
held (pence) at the Option Price*
*Please note if you have recently left Tesco employment you only have six months from your original date of leaving to make your choice.
Please note that Barclays Bank UK PLC does not act as agent, arranger or advisor in relation to exercising your option to buy shares. If
you have any queries about your SAYE account or require more information, please contact Equiniti on +44 121 415 0266. Lines are open
8.30am to 5.30pm (UK time) Monday to Friday (excluding public holidays in England and Wales).
Financial Services Compensation Scheme.
Important information about compensation arrangements
Barclays Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors
if a bank is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by
the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as
having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be
claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible
depositor’s accounts with the bank including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer
to the FSCS website www.FSCS.org.uk or call the FSCS on telephone number +44 207 741 4100.
Barclays Bank UK PLC trades under the following names: Barclays Share Plans; Barclays Wealth Estates & Trust. Deposits accepted from
an eligible depositor under these trading names are combined for the purposes of deposit compensation from the FSCS. The FSCS is
not applicable to deposits held at branches in the Channel Islands or the Isle of Man
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.
6FAQs
Q How will my savings be repaid? If you choose to maintain and exercise your option
A Equiniti will arrange to send your money to you by within the six month timeframe (if the share price
cheque to your home address. exceeds the Option Price), the exercise gain will be
subject to USC and PRSI. This will be deducted via
Q Is there an option to buy shares?
payroll. Income Tax will not apply.
A As the Option Price is currently above the share
price, there is no option available on the Employee Selling Shares: When you choose to sell the shares,
Share Plans (ESP) Portal or via the telephone Capital Gains Tax may apply (currently at 33%). The
channel to exercise your share options. gain/loss is calculated on the difference between
the share purchase price and the Market Value of
However if you would like to buy shares, Equiniti will
the shares when disposed.
issue you with an exercise form to be returned by
post. Please contact the Equiniti helpline on +44 If the gain/loss on disposal, when added to any
121 415 0266 for more information. other capital gains/losses incurred by you during
the relevant tax year, is more than €1,270, Capital
Q What happens if the share price recovers to the Gains Tax may be payable.
original Option Price? Dividends: If you earn any dividend income from
A In the event that the share price recovers and the shares, you are responsible for reporting and
increases above the Option Price, the exercise paying any Income Tax, USC and PRSI to Revenue.
choice will be enabled on the ESP Portal and you
As tax law changes from time to time, it is advisable
can submit your exercise instruction online.
that you seek independent tax advice if you are in
Q How do I know what the current share price is? any doubt regarding your tax affairs.
A The Tesco share price can be found at
Q What happens if I do nothing?
www.tescoplc.com.
A Your savings will automatically be held by Barclays
Q Will I get a tax-free bonus? Bank UK PLC for a further two years and an
A Yes, the bonus payable on the five year scheme is additional bonus of 1 times the amount you saved
1 times the amount you saved in one pay period in one pay period will be payable.
and will be added to your savings repaid to you. If the share price recovers you will still have the
If you decide to leave your savings for a further option to buy shares at the Option Price of £3.22
two years and an additional bonus of 1 times up until six months after your Scheme End Date.
the amount you saved in one pay period will be
Q Are there any risks?
payable.
A There is no risk in having your savings repaid to you
Q What is Scheme End Date? and there will be no charge to have your savings
A The Scheme End Date also known as ‘Maturity Date’ refunded in full.
is shown on page 6. This is the date your scheme
Q What happens if I have any savings repaid before
completes and when you can have your savings
the Scheme End Date?
repaid to you.
A You will not receive the tax-free bonus and you will
Q What happens if I’ve missed any payments? not be able to use your savings to buy shares at the
A For every payment missed, the Scheme End Date of Option Price.
your scheme will be delayed and you will continue
Q How do I find out more?
to have deductions taken from your pay until
A If you need more information about your SAYE
you have completed your savings scheme. Your
scheme please call the Equiniti helpline on
Statement on page 6 will show your Scheme End
+44 121 415 0266.
Date.
Lines are open 8.30am to 5.30pm (UK time),
Q Can I transfer my savings into a new SAYE Monday to Friday (excluding public holidays in
scheme? England and Wales).
A No, the scheme rules do not allow you to transfer
your savings from this scheme to the new scheme.
Q What tax will I pay?
A If you choose to take your savings and bonus in
cash, you will not pay Income Tax, Universal Social
Charge (USC) or Pay Related Social Insurance (PRSI).
In the event you obtain an exercise form and you
use your savings and bonus to buy Tesco shares at
the Option Price, you will not pay Income Tax, USC
or PRSI.
7A B Sample 99999999 2002
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