Turners’ share scheme popular

Turners Automotive Group has announced the uptake of its recently launched employee share scheme has been “strong”, with applications from 42 per cent of staff across the business.

The company says 105,999 shares were issued under the scheme, which represents 0.12 per cent of issued capital. 

The scheme was a chance for permanent employees, both part and full-time, to invest $1,000 and receive $1,500 worth of shares at the completion of a three-year vesting period. 

Todd Hunter, chief executive, says: “We are extremely pleased with the uptake, and we hope we will have even more of the team participate next year. 

“Having such a high percentage of our team as owners of the business is a great thing. The ownership mindset combined with our high team engagement levels is a powerful combination. 

“Turners already benefits from high alignment with shareholder interests, with senior executives and board members controlling 27 per cent of issued capital in aggregate.”