JTC's £50m share awards announced two years ahead of schedule

Monday 29 July 2024

JTC has announced its latest share awards of around £50 million for employee-owners under its "Galaxy Era" business plan – which has been achieved two years ahead of schedule.

The latest share awards follow the company’s Employee Incentive Programme, which saw more than four million awards of ordinary shares of £0.01 each in the company granted.

The successful delivery of JTC's 'Galaxy Era' business plan, benchmarked against its 2020 performance, saw it double in size in 2023.

The plan was delivered two years ahead of schedule.

Since listing on the London Stock Exchange in March 2018, the JTC Group has quadrupled in size. 

All eligible current permanent Group employees, excluding the Executive Directors, are part of the Employee Incentive Programme which aims to recognise and reward long-term performance throughout the entire Group.

The Galaxy Era EIP Awards will be satisfied by the transfer of existing ordinary shares held by the JTC PLC Employee Benefit Trust to each participant and is non-dilutive to the existing shareholders of the Group.

The Galaxy award is the fourth in JTC’s history, since its shared ownership model was established by CEO, Nigel Le Quesne in 1998. 

Since then, the total value created for employee-owners of the business has grown to around £400m, with much of that still held by JTC’s current employees globally. 

Nigel Le Quesne, CEO of JTC, said: “I am delighted that the hard work and commitment to client service excellence of our people has resulted in a shared ownership award for all our circa 1,800 employee-owners globally, in recognition of their successful delivery of our Galaxy era business plan.

"Our commitment to shared ownership aligns the interests of our people, our wider shareholder base, our clients and other stakeholders and has already energised the business in this first year of our Cosmos era.”