Whitebread employees enjoy for 2.6 million shares windfall

Hundreds of people working for Whitbread - the UKís hospitality company whose brands include Premier Travel Inn, David Lloyd Leisure, Costa and Brewers Fayre ñ are celebrating the companyís success, thanks to the annual sharesave scheme, which matures this week.

Employees that participated in the scheme stand to potentially double their investment with the three-year scheme returning twice the original discounted offer price.

With the share price trading at 8.86 (as at Wednesday 5th February), nearly 1,500 employees collectively stand to make around 2.6 million in profit should they choose to exercise their options at the current share price.

Whitbreadís group human resources director, Angie Risley, said:

ìWhitbread has performed well over the past few years and thatís thanks to our people, who work extremely hard to provide the best possible service to our customers. Itís great news that they have this chance to personally share in the companyís success.

ìWe are really pleased that so many employees took advantage of the sharesave scheme. Itís a great and safe way to save and we hope even more people take advantage of it in the future.î

For the three year scheme, the grant price was 4.31 and with the share price currently trading at 8.86, they stand to double the value of their investment.

The scheme allows employees to save up to 250 per month and retain the right to buy shares at the discounted offer price. In addition, those employees who choose to join the scheme and save every month, receive a saving bonus which can also be used to convert to shares. Under the scheme, they can now choose to either exercise their options and then sell the shares; exercise their options and keep the shares, or simply get their money back.