EMPLOYEES TO BUY SHARES
British Finns’ New Plans • Rec. 11 p.m.) LONDON. Noven>ber 13. Twenty-one British firms, employing i.000.U00 workers, are considering a plan to sell industrial >hares to their employees on pay
Tate and Lyle, the big sugar combine, is to start the scheme in the New Year. Associated Portland Cement, producing two-thirds of Britain's cement, has approved the scheme in principle. The plan, announced last night, is aimed at making share-owning easy for the average wage-earner. The suggestion is that "shops” should be set up near pay offices for the sale of shares in the company itself and in other firms taking part in the scheme. The workers will be sold "bearer” shares which they will buy at market values without any commission or stamp duties and have the right to sell at any time. British Treasury approval has been gained for the scheme because bearer shares have been banned since before the war for currency control reasons. I
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Press, Volume XCVII, Issue 28743, 14 November 1958, Page 13
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161EMPLOYEES TO BUY SHARES Press, Volume XCVII, Issue 28743, 14 November 1958, Page 13
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