Welcome UK Share Save 2021 Invitation - to the Greencore Group
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Save from £5 per month Welcome to the Greencore Group UK Share Save 2021 Invitation
Start with
a savings contract
add a sprinkle of
salary deductions
a slice of
20% discount on
the Share Price
could equal
the perfect
Share Save recipe
2
Don’t miss out
Save from £5 per month
GREENCORE GROUP PLC
2 Northwood Avenue,
Northwood Business Park,
Santry, Dublin 9, D09 X5N9, Ireland
Telephone: +353 (0) 1 605 1000
Email: contact.us@greencore.com
15 June 2021
To: Eligible employees
Invitation - The Greencore Group UK Share Save Scheme 2021 (the ‘Scheme’)
This booklet contains full details of the Scheme invitation available to all the day immediately preceding the 2021 Share Save invitation date,
eligible employees of Greencore Group plc in the United Kingdom. As discounted by 20%. The monthly savings amount may be between £5 and
an eligible employee you may now apply for an option over shares in £500 each month (in multiples of £1).
Greencore Group plc, subject to the rules of the Scheme (‘Rules’).
You are advised to read all of the documents carefully. A copy of the full
If you would like to apply for an option, which is entirely voluntary, you Rules are available on request from Greencore Group plc Head Office.
should apply online as set out in the invitation letter NOT LATER THAN
For on and behalf of Greencore Group plc
5pm on 30 June 2021.
The option price is calculated based on the closing share price on
Jolene Gacquin
Group Company Secretary
Registered in Dublin, Ireland. No. 170116.
Registered office: As above.
Directors: J Amaechi, SG Bailey, PF Coveney, PJ Drechsler, GJ Hardie, L Hickey,
3 E Hynes, PG Kennedy, A O’Leary, HC Rose, HA Weir.
Your questions answered - 1
Who can join the Scheme? Can I still join if I have been
You will be eligible to participate in the Scheme furloughed?
if you are an employee of Greencore Group plc
(‘Greencore’), with 12 months continuous service as The latest advice suggests that employees on the
at the invitation date of 15 June 2021. Government’s Coronavirus Job Retention Scheme
(‘CJRS’ - known as furlough) can still apply to join
How does the Scheme work? Share Save if they have sufficient money available
It is an arrangement whereby you agree to pay a to cover the contribution from their reduced pay
fixed sum each month for three (3) years into a and that deductions will be made as normal as long
personal Share Save account with Yorkshire Building as the CJRS is in operation. Once the CJRS ends,
Society. These contributions have to be made by deductions will continue from your regular net pay.
way of a deduction from your net pay each month.
The first deduction will be made from your net pay
What is a share option?
in August 2021. Your employing company will remit It is a right, but not an obligation, to buy shares after
your contributions directly to Yorkshire Building three (3) years at the option price fixed at the outset.
Society, who will credit your personal Share Save
account accordingly. The monthly savings amount Share prices can fall as well as rise, therefore
may be between £5 and £500 each month and must you should check the price of Greencore shares
not be more than £500 under all contracts. regularly just before deciding whether or not to
buy the shares. Past share price performance is not
The savings contract operates as follows: necessarily an indication of future performance.
Three (3) year savings contract What is the option price and how
You make 36 monthly contributions and at is it calculated?
the end of the three (3) year savings period the
account reaches maturity. It is at this point that Greencore shares are listed on the London Stock
you have six (6) months in which to exercise Exchange. The option price that is fixed for the
your option and purchase the shares at the term of your savings contract is calculated based
option price, or withdraw your savings and on the closing share price on the day immediately
spend the money as you please. preceding the 2021 Share Save invitation date,
discounted by 20%.
4
Your questions answered - 2
How many shares may I buy? you may cancel one contract while continuing with
another. If you intend to do this please go to
The number of shares you will be able to buy is www.ybsshareplans.co.uk/greencore to close your
calculated by dividing the expected total proceeds of existing Share Save contract(s) before the current invite
your savings contract, i.e. three (3) year savings, by the closes on 30 June 2021.
option price per share. Your option to buy shares will lapse in respect of any
There is a limit on the number of shares available for cancelled contract.
each invitation and it may not be possible to grant You may take out further contracts, if they are available
options over the number of shares required to meet in future years. A new option price will be fixed at the
each application in full. In this case, all applications will time of each further invitation. However, your total
be scaled down in accordance with the Scheme Rules. monthly savings must not exceed £500 per month, or
such limit as legislation at that time permits.
Do I get any interest?
Please note that the bonus and early closure interest
May I withdraw my savings?
rate for the Share Save Scheme are determined by HM You may withdraw your savings at any time and you
Revenue & Customs (‘HMRC’). The bonus rate for a will receive back your savings to date. Your option to
three (3) year scheme is currently set at zero and the buy shares will then lapse in respect of the cancelled
early closure interest for all savings contracts is also savings contract. If you withdraw your savings at any
currently set at zero percent. stage before the savings period has fully elapsed, your
account will never reach maturity.
As the HMRC Share Save bonus rate for three (3) year
schemes is currently set at zero, you will not receive What happens if I cannot afford
interest on your savings. Therefore, should you decide
not to buy the shares at maturity due to the share
the payments?
price performance, the return from your Share Save You can miss up to twelve (12) monthly payments over
account will be less than that of an ordinary interest the time that you save. To do so you need to ask your
bearing savings account over the same period. payroll department not to make the deduction from
your salary. If you do miss a payment, the end of your
Can I change the amount of my savings contract will be put back a month for each
month that you miss. If you miss more than twelve (12)
monthly contributions after I start? monthly payments, you will lose your right to buy the
No, you cannot reduce or increase your contributions, shares at the option price.
5
although, as each savings contract is treated separately,
Your questions answered - 3
How do I buy the shares?
At the end of the three (3) year period, you Howdo
How do II join?
join?
will be notified in writing how to exercise
your option to buy the shares. Usually You can apply to join the
you will have six (6) months in which to Scheme 24 hours a day
exercise the option or your option will from when the offer opens
lapse. at 9am on 15 June 2021
What is the tax
position?
until 5pm on 30 June 2021.
Applications cannot be
accepted outside of these
times.
15
Under current legislation there is no
income tax liability on either the grant of
the option at the beginning of the savings
contract or on its exercise at the end of the
savings contract. Joining is easy
You may be liable to Capital Gains Tax Visit
(‘CGT’) when you come to sell your shares, www.ybsshareplans.co.uk/greencore
although £12,300 of any gains from all and click on ‘Apply now’
sources is currently free from CGT within
the 2021/2022 tax year. CGT does not
apply when you acquire the shares. You can save between £5 and
It is important to remember that tax £500 per month directly from
legislation may change and that the rules
applying today may be different when you your net pay for 3 years.
exercise your option or when you come to Please note you will not be able to make
sell the shares acquired by exercising your
option.
an application before 15 June 2021.
6Your questions answered - 4
What happens if I leave In each case the number of shares purchased will
depend on the level of your accrued savings at the
employment? time of the exercise.
Your choices on leaving employment are dependent
on your reason for leaving Greencore. The following ▲ Resignation or not returning after maternity leave
sections explains these in more detail. If your account You will not be able to buy any shares and so you
has reached maturity and you subsequently leave, can close your account and take back your savings.
your option may lapse depending on the reason for
leaving. However, if you leave for these reasons and your
option has been held for three (3) years or more
▲ Leaving before the end of the three (3) year
from the Date of Grant, you will be entitled to buy
savings contract due to injury, disability,
shares.
redundancy, retirement, transfer of employment
or if the company you work for is sold out of For early exercises as permitted in the circumstances
Greencore. given, you may only be able to buy a reduced number
of shares at the option price up to the value of your
You will be able to continue saving privately and savings at that time.
buy shares within six (6) months of leaving using
your savings to date. If you wish you can close your Is this the full set of Rules?
account and have all your savings returned to you.
No, this leaflet is only for your guidance and neither
▲ Death in Service replaces nor overrides the Rules of the Scheme.
A copy of the Scheme Rules may be obtained
If you die before your savings contract matures,
on application to the Group Company Secretary,
your personal representatives may exercise your Greencore Group plc, 2 Northwood Avenue,
option within one (1) year after your death. Northwood Business Park, Santry, Dublin 9, DO9
If you die within six (6) months after your savings X5N9, Ireland or by contacting natasha.short@
contract matures your personal representatives greencore.com.
may exercise your option within one (1) year of the
maturity of the savings contract.
7Important dates:
15 June 30 June 7 July
2021 2021 2021
Invitations sent Last date for Date of grant
to employees receipt of of options
applications
by 5pm
August August 1 September
2021 2021 2021
Share Option First deductions Share Save
Certificates from salary contract start
issued date
8Howdo
How do II join?
join?
If you have any questions relating to the
Share Save Scheme please call the YBS
Share Plans Helpline:
0345 1 200 300
Monday to Friday 9.00am - 5.00pm, Saturday 9.00am to 1.00pm
The Financial Services Compensation Scheme (‘FSCS’)
Important information about compensation arrangements
For further information please see section VI of the Sharesave Terms and Conditions at
ybsshareplans.co.uk/greencore or visit the FSCS website at fscs.org.uk.
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.
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
Yorkshire Building Society provides Share plan trustee and administration services, including
deposit taking, in England and subject to English law and regulation. 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 and its registration
number is 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.
YBM 2255 21 05 21You can also read
