Sharesave is a simple plan usually launched once a year, in August, that gives you the chance to save and, at a later date, the option to buy Diageo shares at a discounted price known as the option price. The option price is the Diageo share price at the time of the grant, discounted by 20 per cent. The number of shares you can buy depends on how much you save, the option price and how long you save for.
You can save any amount of whole pounds between £5 and £350 per month over 3 or 5 years, you decide! You can join more than one plan but the total of your monthly savings across all your Sharesave plans must not be more than £350. Your savings are deducted from your salary each month (after tax and NI have been deducted) and paid into an account with the Sharesave Provider.
The plan is flexible and you can suspend your payments for up to 12 months (but you will lose the option to buy shares if you miss more than a total of 12 payments during the savings term). You can also stop saving at any time and receive a refund of your savings by closing your account on your Shareworks portal account but, you will lose the option to buy shares.
Joining is easy during the enrolment window and is done online through your Shareworks portal account. After you join Sharesave you can view the number of options granted to you on your Shareworks portal account or why not view your shares on the go by downloading the ‘Shareworks’ app from your app store.
When the savings period is finished you have the option to close your account and use your savings to buy Diageo shares. If you decide to buy the shares you pay the option price which is set when you first started saving.
You don’t have to use your savings to buy the shares – you can take some or all of your savings and any bonus in cash if you wish.
For more detailed information please see the UK Sharesave Factsheet within the Document section of your Shareworks portal account.
You can log into your Shareworks portal account on the Shareworks Login page