Company News, 2005-06-01, 05:26 PM
Strong demand for employee shares
This year´ s offer to buy ThyssenKrupp employee shares at half price once again met with a very good response, with 47 % of eligible employees securing their "50% bonus".
The issue price for the employee shares in Germany depended on ThyssenKrupp?s stock price on June 1, 2005: the lowest price at which ThyssenKrupp shares were traded on the Frankfurt stock exchange (Xetra) by 1.00 p.m. on that day was taken as the basis for the share purchase. This price was EUR 14.81. The stock package therefore contained 18 shares and was worth EUR 266.58, of which the participating employees had to pay only half, i.e. EUR 133.29.
The first employee share program outside Germany was launched in France in march. Some 8,500 employees from 20 French Group subsidiaries had the opportunity to purchase employee shares. The participation rate was just over 47 percent. As in Germany, the employer allowance in France was 50 % of the purchase price.
Other countries are now also looking into the possibility of launching share programs. As the framework conditions vary greatly from country to country, national programs must be adapted accordingly. This may mean that in some countries a national share program is not viable.
However, there are three rules which apply to all national programs:
･ Employees are given the opportunity to purchase ThyssenKrupp shares at a reduced price.
･ The maximum employer allowance is 50 % of the share price and
･ may not exceed EUR 135.