Employee Share Ownership

The initial share structure of LGC(Holdings)Ltd provided for 33% of shares to be purchased by staff with further shares allocated to an Employee Share Option Scheme to allow all staff who had worked for the company for more than a year ultimately to become shareholders. The scheme involved establishing an Employee Benefit Trust which allowed for the sale and purchase of small numbers of shares and subsequently was used for a phantom share scheme for employees.

LGC: the marking of a company explains how employee share ownership was part of Richard Worswick’s vision for the company and how it played an important role in changing aspects of the culture in the move from civil service to private enterprise.