Sharesave

Sharesave is a simple savings plan that offers all Kier employees the opportunity to save and become a shareholder in Kier.

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Download the EQ Share Plans app.

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Scan this QR code with your mobile phone to download the app.

Download the EQ Share Plans app.

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Sharesave October 2021 – Option Price 96p

Sharesave October 2021 matures on 1 December 2024 at the end of its three-year term. If you have completed all 36 monthly/144 weekly payments you will have six months to exercise your option to use your savings to buy Kier shares for the Option Price of 96p each.

If you took a payment break during the three-year savings term, your maturity date is delayed until all 36 monthly/144 weekly payments have been made. You will then have six months to use your savings to buy Kier shares at the Option Price of 96p each.

You can check the current share price for Kier shares on Your Kier or at www.kier.co.uk.

You now need to decide whether you want to sell or keep your shares and there are a number of different choices available to you. This maturity flow chart diagram illustrates the choices that you have.

worker climbing on side of building

Your Options

You have the following options available to you:

    2.

Use your savings to buy the shares at the Option Price and EQ will sell them on your behalf. You then receive the cash from the sale of the shares.

By choosing this option, your Sharesave savings will be used to buy the shares at the Option Price and you instruct Equiniti Financial Services Limited to sell them through its Share Sale Service at the next available sale date. You will receive the cash proceeds of the sale (less the dealing costs that apply when shares are sold) directly into your salary bank account.

Please view the full schedule below for the key dates for you to make the sale instruction on the Kier Share Plans Portal and date the shares will be sold.

Please note:

  • That the sale of the shares usually takes place 9 days after the deadline for submitting instructions
  • The share price that the shares are sold at will be the sale price achieved at the time the shares are sold on the stock market and not Kier’s share price at the time you submit your instruction to sell
  • The cost to sell the shares using the Share Sale Service is 0.5% of the value of the sale with a minimum fee of £25 applied*

If you wish to buy all the shares and have them sold at the next available sale date, select 'Sell the shares and receive the proceeds' from the exercise choices on the Kier Share Plans Portal or you can make the sale instruction on the EQ Share Plans App.

If you wish to sell some of the shares and keep the remainder please select more than one option from the exercise choices available.

Once the sale takes place, it will take 2 working days to complete and after that you should receive the funds into your salary bank account within 5 working days.

* Rates shown were current at 21 October 2024, however, these are subject to change. To ensure that you are aware of the current applicable rates prior to dealing, please ensure that you have read the latest Terms and Conditions.

    2.

Use your savings to buy the shares at the Option Price and transfer them to the EQ Corporate Sponsored Nominee Service ('CSN') where they will be held in your name.

The CSN offers a simple and convenient way to hold and manage your Kier Group plc shares electronically, without having to hold a paper share certificate. Shares held in a CSN account can be sold or transferred at a time of your choosing. From here you can transfer to your Spouse/Civil Partner or transfer to an ISA.

If you wish to buy all the shares and hold them electronically in the CSN select 'Transfer to CSN' from the exercise choices on the Kier Share Plans Portal.

Your shares should be available in your CSN account within 5 working days following the allotment of your shares and can be viewed on the Kier Share Plans Portal.

In order to transfer to a Spouse or Civil Partner, you will need to complete a Form A.

More information can be found at www.shareview.co.uk/info/csn.

If you already have a EQ Global Nominee Account, any shares held in this will be transferred to your EQ CSN account in January 2025 and you will receive separate communication from EQ regarding this change.

    2.

Use your savings to buy the shares at the Option Price and transfer them to the EQi Flexible ISA.

This is a Stocks and Shares ISA, which allows you to invest up to £20,000 per tax year and any gains are tax-free.

Any surplus above the £20,000 will be transferred into the complementary EQi Dealing Account you will receive as a result of opening the EQi Flexible ISA – this will allow you to easily transfer into the ISA once shares have been sold and you’ve released some of the investment out of the ISA.

Find out more about EQi Flexible ISA including the fees payable.

You can transfer directly into the EQi Flexible ISA, as long as your instruction is received before 6pm on 14 January 2025, and you do not have a deferred maturity. To do this, select 'Transfer share to an EQi Flexible stocks and shares ISA' from the exercise choices on the Kier Share Plans Portal.

After this date, you will need to transfer your shares into the CSN before you can initiate the transfer into the ISA, however this must be done within 90 days of exercise. In order to apply for an EQi ISA, you will need to complete an ISA Application Form and return this to forms@eqi.co.uk. Indirect ISA Transfer Flowchart.

You’ll also need to complete a Form E to transfer from the CSN.

    2.

If you choose not to exercise your shares and to request a refund of your savings, you will need to contact AskHR@kier.co.uk.

Capital Gains Tax

There is no income tax or national insurance payable on any gains you make when you exercise your Sharesave option to buy Kier shares at the Option Price and then sell those shares. But depending on how much those shares are worth when you sell them, you may be subject to Capital Gains Tax (“CGT”). More information is available on this FAQ document.

Residual Balance

If you decide to buy the shares there will often be a small cash amount left in your Sharesave account. This is because it’s very unlikely that your savings will divide exactly into whole shares at the Option Price (i.e. the residual will be less than 96p). You can choose for this to be donated to the Kier Foundation, or for it to be sent to your salary bank account.

Key Dates

Deadline for making instructions in Kier Share Plans Portal 6pm (UK time) When the shares are sold or allotted to you Tax Year Sale – Estimated date that funds received you’re your salary bank account* Options Available
26 November 2024 5 December 2024 2024/2025* 16 December 2024
  1. Sale
  2. CSN
  3. EQi ISA
3 December 2024 12 December 2024 2024/2025 23 December 2024
  1. Sale
  2. CSN
  3. EQi ISA
10 December 2024 19 December 2024 2024/2025 3 January 2025
  1. Sale
  2. CSN
  3. EQi ISA
30 December 2024 9 January 2025 2024/2025 14 January 2025
  1. Sale
  2. CSN
  3. EQi ISA
14 January 2025 23 January 2025 2024/2025 3 February 2025
  1. Sale
  2. CSN
  3. EQi ISA
Fortnightly on the Tuesday Fortnightly on the Thursday 2024/2025 or 2025/2026 Fortnightly on the Friday
  1. Sale
  2. CSN
  3. EQi ISA (indirect transfer via CSN)
20 May 2025 30 May 2025 2025/2026 06 June 2025
  1. Sale
  2. CSN
  3. EQi ISA (indirect transfer via CSN)

* Date of receipt of funds into bank accounts is dependent on when the sale of the shares is completed on the stock market. It can take longer if larger volumes of Kier shares are being sold on a particular date.

If you have a delayed maturity and exercise after 1 June 2025, you will have the option to purchase the shares at the Option Price and hold them in the CSN or receive all your savings back as cash.

Please note all dates are subject to change. EQ cannot be held responsible for any changes to advertised dates which are outside their control nor any resulting loss.

Next Steps

You need to decide what you want to do next. You can make your instruction to sell or hold in the CSN using the EQ Share Plans App or log onto the Kier Share Plans Portal to have the full range of choices.

If you choose not to make your instruction in the six months after your maturity, or leave Kier’s employment through resignation or dismissal before your maturity date, you will lose the option to buy shares at the Option Price and will receive a refund of all your savings.

As with all companies’ shares, the market price of Kier Group plc shares on the London Stock Exchange can go down as well as up. We recommend that you check the Kier Group plc share price before taking any action and/or seek financial advice if you need further assistance in making a decision.

It is open to join each year, with the invitation period usually starting in early October. You will receive information when the next invite arrives. Please refer to the key dates section, which shows the 2024 invitation dates as a guide.

Key features

  • Sharesave is an opportunity to purchase Kier Group plc shares in three years’ time at a discounted price that is fixed now, called the Option Price.
  • The Option Price is based on Kier’s share price at the start of the plan, less a discount of 20%.
  • You choose a fixed amount of how much you want to save – from £1.25 to £18.75 per week / £5 to £75 per month.
  • A bonus is added to your savings, so you can buy more shares at the Option Price or simply have your savings returned to you, with interest added
  • At the end of the three year saving term, you can choose whether you want to use your savings to buy shares at the Option Price or get all your savings back as cash.
  • It’s flexible as you can pause making your weekly/monthly contributions if you need that money for something else.
  • Sharesave is risk free.

To see the differences between Sharesave and SIP go to the Useful documentation section below.

Choose

Choose how much you want to save, between £1.25 to £18.75 per week/£5 to £75 per month. This amount is fixed for the duration of the saving contract.

Apply

Join by clicking the 'Apply Online' button, login and follow the instructions on screen – or use the 'EQ Share Plans' App.

The deductions will start from your November pay.

Decide

Once the three years are up, you decide what to do with your savings:

  • keep your shares as an investment and become a shareholder, and receive dividends on your shares
  • sell your shares through the Kier Share Plans portal and make a profit

    • or

  • take back all your savings as cash.

Here are some examples saving either £20, £50, or £75 per month over 3 years.

If the share price at the start of the savings period was £1.50 per share, the Option Price would be £1.20, due to the 20% discount Sharesave offers.

Examples only - Option Price of £1.20

Monthly savings Total savings after 3 years Bonus Shares available to buy after 3 years Market value of the Shares if price increases to £3 Gain
£20 £720 £22 618 £1854 £1134
£50 £1800 £55 1545 £4635 £2835
£75 £2700 £82.50 2318 £6954 £4254
Calculator

If the share price is higher than the Option Price at the end of the three year savings term your shares will be worth more than your savings and you can convert your savings to Kier shares, called exercising your option. Use them to buy Kier shares at the Option Price and decide whether to:

  • keep your shares as an investment and become a shareholder and receive dividends on your shares
  • sell your shares through the Kier Share Plans portal and make a profit

or

  • take back all your savings as cash plus the bonus

If the share price is lower than the Option Price at the end of the savings term, it is not worthwhile to buy shares at the Option Price and you can simply choose to take back all your savings as cash.

"Sharesave works for me. It's an easy way to save each month straight from my pay and I know I can access my savings if I need them during the three years."

Stacey, Administrator


"It's really good knowing that with Sharesave you get back at least everything you save into it, and you might get more! It is easy to track the value of your Sharesave plan and see what extra it's worth if Kier's share price goes up."

Sarah, HR Business Partner

"I join Sharesave every year as it's a simple, risk-free savings plan. The Sharesave plan which finished in early 2024 paid for a great fortnight away to Singapore and Bali."

Glen, Lead Water Technician

You will only be able to join Sharesave during an invitation window but you can register at any time. Please refer to the key dates section for more information on when you can join. Full details are provided to you at the time of the invitation.

You can join Sharesave using the Kier Share Plans Portal online or by using the new 'EQ Share Plans' app.

You will need your National Insurance Number to access the portal, you can find this on your payslip.

Join Sharesave using the 'EQ Share Plans' app

You can download the 'EQ Share Plans' app for both Apple and Android devices.

Once you have downloaded the app, follow the instructions to log in (using your same log in details for the Portal) or register. You will then be able to apply.

Scan this QR code with your mobile phone to download the app.

Download the EQ Share Plans app.

App Store
qr code apple

Scan this QR code with your mobile phone to download the app.

Download the EQ Share Plans app.

Play Store
qr code android

OR

OR

Join Sharesave online on the Kier portal

Already registered for the Portal?

  1. Visit the Kier Share Plans Portal

  2. Log in and click on the I want to section and follow the instructions.

Not registered for the Portal?

  1. Visit the Kier Share Plans Portal

  2. Click register and follow the instructions on screen.

  3. If you have a work email address, please use that. You’ll be emailed your activation code.

  4. If you don’t register with your work email and use a personal email address (e.g. @gmail or @hotmail) your code will be posted out to you – but you don’t need to wait for this to apply for Sharesave

  5. To complete your Sharesave application, once you are logged into the portal, in the I want to section, simply click on the manage my Sharesave application link and follow the instructions. Once you have applied to join, you will receive a confirmation email.

Key dates

As a guide, please see the latest invite key dates below:

30 September 2024

Option Price will be determined using the closing share price

1 October 2024

Sharesave invitation period opens

21 October 2024 (11:59pm)

Closing date for applications (late applications cannot be accepted)

29 October 2024

Date of grant of options

November 2024 payroll

First deduction from your salary

1 December 2024

Your savings contract starts

FAQs

You need to be employed shortly before the annual invitation window opens to be eligible to join the Sharesave.

This is your Sharesave and you can decide to stop saving at any time during the savings period and take out all your savings. There are no charges or penalties. However, if you take your savings before the end of the three year savings period you’ll lose the chance to buy shares at the discounted Option Price.

No. Once your savings contract has started, you cannot change the amount you save.

You can suspend up to twelve contributions, and each monthly contribution missed will result in the maturity of your savings contract being postponed by one month to allow you to make up the payment(s) at the end of your savings period. The most you can miss is the equivalent of twelve monthly payments – these can be separate periods of one or more months or a single twelve month period.

If you go on maternity/parental leave or other long term absence, you can make arrangements to continue contributing by standing order by EQ on 0371 384 2040. Lines are open 8:30 - 17:30 Monday to Friday, excluding public holidays in England & Wales.

You can also email MySharePlan@Equiniti.com and they will answer any queries you may have.

Shares can go down in value as well as up. With Sharesave you have a safety net, because if the Kier Group plc share price at the end of the savings contract is less than the Option Price, you can take your savings as cash instead of buying shares. Don’t forget this is essentially a savings contract. You don’t need to make a decision until the end of the saving period.

If you leave through resignation or dismissal you’ll get all your savings back, plus any applicable bonus or interest. However, you’ll no longer be eligible to buy Kier Group plc shares at the Option Price.

If you leave Kier’s employment at any time during your savings period, because you’re made redundant, TUPE transferred (Transfer of Undertakings (Protection of Employment) Regulations 2006 applies), injured, disabled or if you retire, you’ll be able to use your savings, plus any applicable bonus or interest, to buy a reduced number of Kier shares within six months of leaving if you wish, or you can continue saving directly with EQ.

The end of your savings term is called maturity. At maturity you can either take your money in cash or buy shares. More information will be sent to you when your savings reach maturity.

Your savings, which are held with Lloyds Bank plc, are your own and are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. In respect of deposits, an eligible depositor is entitled to claim up to £85,000.

For further information refer to the FSCS website www.fscs.org.uk or call the FSCS on telephone number 020 7741 4100 or 0800 678 1100. Alternatively, log onto www.lloydsbank.com for further information about the compensation scheme.

Savings are taken from net pay. There is no income tax or national insurance payable on any gains made.

Capital gains tax (CGT) may apply if you sell your shares and the gain is more than the CGT limit. The gain per share is the difference between the Option Price and the price at which the shares are sold. The current CGT limit is £3,000 for tax year 24/25. Information regarding CGT and the options available to you will be provided at the end of your savings term.

The amount of interest for Sharesave is set by the Government (HMRC) at the start of the savings plan. For Sharesave 2024, a tax-free bonus of 1.1 x your monthly contribution will be added to your savings at maturity. At the end of the savings contract, you can buy Kier shares with the money you’ve saved plus the tax-free bonus, at the Option Price, which is fixed and discounted at the beginning of your savings contract. Or you can take your savings back plus the tax-free bonus.

For more information and details on what happens if you stop saving before the end of the savings contract, please refer to the Bonus Rates FAQs, which can be found in the Useful Documentation section above and on the ESP Portal.

You can either log into the portal or use the new app to view your savings at any time, or alternatively call EQ on 0371 384 2040. EQ will also send you an annual statement showing you how much money you have saved. You should check your payslip each week/month to ensure payroll are deducting the payments.

Dividends are paid by Kier to its shareholders. At the end of the 3 year savings term, if you choose to use your savings to buy Kier shares and keep them, dividends will be payable on those shares.

If you’d like further information about Sharesave, please call EQ on 0371 384 2040 between 8:30 - 17:30 (UK time), Monday to Friday (excluding public holidays in England and Wales) or email MySharePlan@Equiniti.com and they will answer any queries you may have. Correspondence should be sent to: EQ, Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.

This website is not a legal document and will always be overridden by the formal rules if there are any differences between the two. In the event of any conflict between this website and Sharesave rules/legislation, the latter will take precedence. Any references to tax consequences within this document are for guidance only. Data protection: our privacy notices clearly explain how your data is protected and how your enhanced rights apply from 25 May 2018. To read the latest versions, please visit www.equiniti.com/privacy and your employee privacy policy.

When you speak to EQ on the phone, some calls may be monitored or recorded in case EQ needs to check they have carried out your instructions correctly and to help improve the quality of service.

Need help? Contact EQ

Contact EQ on 0371 384 2040 between 8:30 - 17:30, Monday to Friday (excluding public holidays in England and Wales).