Staff sign up for shares

More than half the people working for Turners Automotive Group have signed up to its employee share scheme over the past three years.

“We are very pleased with the uptake,” says Todd Hunter, pictured, chief executive officer. “Between the 2022, 2023 and 2024 schemes, we now have 53 per cent of our wider team as shareholders in the company. 

“The ownership mindset combined with our high team-engagement levels continues to be a powerful combination and a strong advantage for the organisation.”

Employees have applied for 91,388 shares and, after utilising shares already owned by the staff scheme, 70,352 shares have been issued representing 0.08 per cent of issued capital. 

The scheme allows part and full-time permanent employees to invest $1,000 and receive $1,500 worth of shares at the completion of a three-year vesting period. To encourage broad participation, the company has offered three-year interest-free loans to all staff to acquire shares.