Pearson sharesave plans prove profitable on maturity

Pearson’s UK employees who participated for five years in the company’s 2003 international sharesave scheme stood to gain an average of £6,138 when their plan reached maturity on 1 August.

There were 168 participants in the plan on maturity who each made monthly savings on average of £152 and benefited from an option price of £4.248, as against a share price at maturity of £6.495.

At the same time, the company’s 2005 three-year plan also matured with the 433 UK participants making an average profit of £978, having made average monthly savings of £79 and benefiting from an option price of £5.076.

Gabbi Stopp, share plans manager at Pearson, said: “Of the 170 UK participants who submitted instructions straight away, 60% elected to keep their shares either in certified form or in our corporate nominee, Share Store. The remaining 40% took advantage of our immediate sale on maturity facility.”

The media company, which owns Penguin, Penguin Education and the Financial Times, has operated an international scheme, branded as Worldwide Save for Shares, since 1998. The scheme is currently offered to eligible employees across 63 countries with the help of a network of local plan coordinators.

Pearson also offers an international corporate nominee so that employees – particularly those outside the UK – have a means of holding or selling their shares easily post maturity.