Sharesave 2026
Sharesave is open to join each year, normally in June. For Sharesave 2026, you can apply to join from 2 June to 17 June 2026 (inclusive) by 5pm. Please look out for your email invitation on 2 June 2026.
Option Price
232p
Watch the video for more information about the M&B Sharesave Plan and how to sign up
Key Features
Sharesave is an opportunity for you to share in the company's success and purchase shares in 3 or 5 years’ time.
The Option Price is based on Mitchells & Butlers share price at the time of the invitation.
Your savings are deducted directly from your net pay (after Income Tax and National Insurance Contributions).
After 3 or 5 years, you can either buy shares at the Option Price, or if the Mitchells & Butlers share price is below the Option Price, you can withdraw all your savings (including any bonus) back as cash.
A tax-free Sharesave bonus (set by HMRC) will be added to your savings on completion of the savings contract. For this years Launch this is set at for the 3 year Sharesave 0.4 multiplied by your savings amount and for the 5 year Sharesave this is 1.1 multiplied by your savings amount.
It’s flexible as you can pause your monthly contributions for up to 12 months.
You can cancel at any time and get all your savings back straightaway (12 payments must have been received by EQ to also receive 0.50% interest).
You can join more than one Sharesave but the maximum you can save across all your Sharesave plan(s) is £500 per month.
How Does It Work?
1
Apply
Choose how much you want to save, between £5 to £500 per month for either 3 or 5 years.
The savings amount is fixed for the whole of the 3 or 5 year saving contract.
The Option Price is fixed at the time of the invitation.
If you’re already participating in Sharesave, please be aware that the maximum savings limit is £500 per month across all your Sharesave Schemes.
2
Save
Once your application has been accepted, we’ll confirm the number of Options granted to you.
We’ll start deducting your monthly saving amount from your pay in September 2026 for a period of either 3 or 5 years.
3
Choose
At the end of your savings contract (known as the ‘Maturity’), you can choose to buy shares at the Option Price or withdraw all your savings.
Any applicable tax-free Sharesave bonus will be added to your savings.
At Maturity, you can choose to:
- Buy shares at the Option Price and become a shareholder; or
- Buy and sell your shares to receive cash and any profit; or
- If the Mitchells & Butlers share price is lower than the Option Price, you can withdraw all your savings and any applicable tax-free Sharesave bonus.
Whats the Benefit
Below are some examples of saving over a 3 year savings period, using an example Option Price of £2.35 per share:
| Monthly savings | Savings after 3 years | Tax-free Sharesave bonus after 3 years | Total savings after 3 years | Number of shares available to buy after 3 years | At the end of the 3 years if the Mitchells & Butlers share price is £3*, your shares are worth | You make a gain of** |
|---|---|---|---|---|---|---|
| £50 | £1,800 | £20 | £1,820 | 774 | £2,322 | £502 |
| £100 | £3,600 | £40 | £3,640 | 1,548 | £4,644 | £1,004 |
| £250 | £9,000 | £100 | £9,100 | 3,872 | £11,616 | £2,516 |
| £500 | £18,000 | £200 | £18,200 | 7,744 | £23,232 | £5,032 |
* The above share price is for illustrative purposes only.
Share prices go up and down.
** Dealing charges apply at the time of sale of shares.
If the Mitchells & Butlers share price is lower than the Option Price at the end of the 3 or 5 year savings period, you can simply choose to withdraw all your savings and any applicable tax-free Sharesave bonus.
Use the calculator to estimate what your contributions could be worth at the Sharesave 2026 Option Price.
How To Join
By Text *
Text MABSAYE then:
- The savings period (space)
- Payroll number (space)
- National Insurance number (space)
- Monthly savings amount (space)
- Y (to confirm you have received the FSCS information sheet) (space)
- Y (to confirm you have read and accept the Terms and Conditions)
to 84247
For example, to apply to save £50 per month for 3 years
you would text:
MABSAYE3 123456 AB123456C 50 Y Y
OR
To apply to save £50 per month for 5 years you would text:
MABSAYE5 123456 AB123456 50 Y Y
To see confirmation of the number of shares allocated to you please check the Portal on or after 25 June 2026.
*By using the text service you apply to join Sharesave and acknowledge that you have read the Terms and Conditions and the Financial Services Compensation Scheme Information Sheet and Exclusions list. Texts will be charged at your standard network rate.
OR
Via the ESP Portal
You can join Sharesave by logging into the Equiniti Limited (‘EQ’) Employee Share Plans (‘ESP’) Portal online.
You will need your Payroll number to access the ESP Portal, you can find this on your payslip.
Visit esp-portal.com You will need your Payroll number.
- Click Register and follow the instructions on screen.
- If you have an @mbplc.com email address, please use that. You’ll be emailed your activation code.
- If you don’t register with an @mbplc.com email address, your code will be posted out to you.
Remember
you don’t need to wait for your
activation code to join and you dont need to sign
up for an ESP portal account
Log into esp-portal.com
Click on the 'I want to' section and follow the instructions.
Terms & Conditions
Here is a copy of your Sharesave Terms & Conditions
Frequently Asked Questions
For more information on Sharesave please read through our FAQs
Sharesave Maturity
The 2023 Three Year Sharesave Scheme is due to mature on 1 November 2026. If you have missed any payments, the maturity date and the six-month period when you can exercise the Option will be deferred by the number of months that you have missed.
When the Sharesave Scheme reaches maturity, you have the following choices:
Your choices
Use some or all of your Sharesave contributions to buy Mitchells & Butlers plc shares within 6 months of the maturity date.
You will receive a share certificate in the post to your registered home address and your shares will be held with Mitchells & Butlers and administered by Equiniti Limited (‘EQ’).
If you do not exercise your Option between 1 November 2026 and 30 April 2027, you will lose your right to buy the shares and your savings will be returned to you.
If you have missed any payments in the Scheme, your maturity date and Option expiry date will be extended by the number of months you have missed.
The last day you can submit your instruction to sell all or some of your shares through the Equiniti Financial Share Sale Service (the Share Sale Service) is Friday 30 April 2027. If you elect to sell some of your shares, the remaining balance will be sent to your registered home address as a share certificate.
Full terms and conditions for the Share Sale Service are available here and on the ESP Portal.
Please note that the share price may move up or down between the date of your instruction being submitted and the date of the sale; the price you receive will be the price achievable when the trade is placed in the market.
An EQi Flexible Stocks & Shares ISA to transfer your shares into and you have until Friday 30 April 2027. Once your shares are in the ISA, you can keep or sell them.
You can transfer shares up to a maximum value of £20,000 (in the 2026/27 tax year) into a Stocks & Shares ISA. Shares held in an ISA are shielded from Capital Gains Tax (CGT) liability but the transfer into an ISA must be completed within 90 days of the day you exercise your option to buy the shares.
For Terms & Conditions, charges and further details about the EQi Flexible Stocks & Shares ISA, please visit the links below:
- Terms & Conditions - eqi.co.uk/info/important-information
- Current charges - eqi.co.uk/info/how-it-works/new-pricing
- Further information - eqi.co.uk/info/isa/explained
Please contact EQi’s Customer Experience Centre on 0345 0700 720 for any further information or if you have any questions. Lines are open 08:30 - 17:30, Monday to Friday excluding UK public holidays.
You are able to transfer some or all of your shares to your spouse/civil partner if you wish to, subject to Capital Gains Tax allowance. To do this simply issue your instructions online by 6.00pm on Friday 30 October 2026. After that date, to make this type of transfer you should choose to exercise and keep and use the certificate along with a transfer form to complete the process. Your spouse/civil partner will be issued with a share certificate. This can then be used to sell those shares either through a broker of your choice, or online at www.shareview.co.uk
You can also have your savings paid back into your bank account without exercising your Option to buy shares at the Option Price. If you wish to have your savings repaid to you, you can request repayment of savings via the Equiniti Employee Helpline on +44(0)371 384 2135. If your bank details are held on the ESP portal, please check they are correct. Any bank changes can be made by employees as these are no longer provided by payroll.
Subject to the rules of the Sharesave Scheme, you will retain the right to exercise your Option and buy shares through the 2023 Sharesave Scheme for a period of six months following your maturity date. This six-month period applies even if your savings are returned If you wish to exercise your option within six months of the maturity date please write to Equiniti at Equiniti Limited, Highdown House, Yeoman Way, Worthing, West Sussex, BN99 6DA. Your letter will need to confirm that you wish to exercise your 2023 three-year Sharesave Option, and enclose a cheque for your total savings repayment. The cheque will need to be made payable to ‘Lloyds Bank plc re Mitchells & Butlers’, drawn on a UK bank or building society account in your name.
Your Option will lapse on 1 May 2027 if it has not been exercised by this date. This date will differ for those who have a deferred maturity date. All information in relation to your Scheme including your savings amount and maturity date can be found on the ESP Portal
Your Option will lapse 6 months after the maturity date, your money will be returned and you will no longer be able to acquire any of the shares under Option.
How to make your choice
You can make your choice via the Employee Share Plans (ESP) Portal.
Visit esp-portal.com You will need your Payroll number.
- Click Register and follow the instructions on screen.
- If you have an @mbplc.com email address, please use that. You'll be emailed your activation code.
- If you don't register with an @mbplc.com email address, your code will be posted out to you.
Log into esp-portal.com
Click on the 'I want to' section and follow the instructions.
Maturity Timetable
| Instruction Received by EQ | Normal Exercise Date* | Choices Available |
|---|---|---|
| Wednesday 21 October 2026 | Monday 02 November 2026 | Sell, Transfer or Keep |
| Friday 30 October 2026 | Monday 09 November 2026 | Sell, Transfer or Keep |
| Friday 06 November 2026 | Monday 16 November 2026 | Sell, Transfer or Keep |
| Friday 13 November 2026 | Monday 23 November 2026 | Sell, Transfer or Keep |
| Friday each week | A week the following Monday (10 days post cut-off) | Sell, Transfer or Keep |
The last date you can submit an instruction (if you have not missed any payments) is Friday 30 April 2027 and this instruction will be processed on 17 May 2027.
The maturity instruction placed is irrevocable which cannot be cancelled nor amended under any circumstance. If multiple instruction channels are made available, the first instruction received will be processed. All instructions are dated and time recorded.
If you have deferred contributions, the first available Exercise Date will be delayed by the number of months you have deferred. You will need to submit your instructions in the ESP Portal within 6 months of the first Exercise Date. This means that you will not be able to transfer your shares to an EQi Flexible Stocks and Shares ISA or transfer to your spouse/civil partner as a maturity choice via the ESP Portal. If you wish to transfer them to an EQi Flexible Stocks and Shares ISA, you will need to transfer them to a share certificate first. For deferred maturities where a maturity instruction is placed prior to savings contract completion and the choice elected is no longer offered at the point of allotment, the default maturity choice 1 certificate will apply.
For fees and charges relating to the sale of shares, please refer to the Share Sale Service Terms and Conditions which are available here and on the ESP Portal.
*Bank Holidays may necessitate a change to this schedule.
Tax information
Information on the UK tax position regarding your 3 year SAYE
Frequently Asked Questions
For more information on Sharesave please read through our FAQs
The 2021 Five Year Sharesave Scheme is due to mature on 1 October 2026. If you have missed any payments, the maturity date and the six-month period when you can exercise the Option will be deferred by the number of months that you have missed.
When the Sharesave Scheme reaches maturity, you have the following choices:
Your choices
Use some or all of your Sharesave contributions to buy Mitchells & Butlers plc shares within 6 months of the maturity date.
You will receive a share certificate in the post to your registered home address and your shares will be held with Mitchells & Butlers and administered by Equiniti Limited (‘EQ’).
If you do not exercise your Option between 1 October 2026 and 31 March 2027, you will lose your right to buy the shares and your savings will be returned to you.
If you have missed any payments in the Scheme, your maturity date and Option expiry date will be extended by the number of months you have missed.
The last day you can submit your instruction to sell all or some of your shares through the Equiniti Financial Share Sale Service (the Share Sale Service) is Wednesday 31 March 2027. If you elect to sell some of your shares , the remaining balance will be sent to your registered home address as a share certificate.
Full terms and conditions for the Share Sale Service are available here and on the ESP Portal.
Please note that the share price may move up or down between the date of your instruction being submitted and the date of the sale; the price you receive will be the price achievable when the trade is placed in the market.
An EQi Flexible Stocks & Shares ISA to transfer your shares into and you have until Wednesday 31 March 2027. Once your shares are in the ISA, you can keep or sell them.
You can transfer shares up to a maximum value of £20,000 (in the 2026/27 tax year) into a Stocks & Shares ISA. Shares held in an ISA are shielded from Capital Gains Tax (CGT) liability but the transfer into an ISA must be completed within 90 days of the day you exercise your option to buy the shares.
For Terms & Conditions, charges and further details about the EQi Flexible Stocks & Shares ISA, please visit the links below:
- Terms & Conditions - eqi.co.uk/info/important-information
- Current charges - eqi.co.uk/info/how-it-works/new-pricing
- Further information - eqi.co.uk/info/isa/explained
Please contact EQi’s Customer Experience Centre on 0345 0700 720 for any further information or if you have any questions. Lines are open 08:30 - 17:30, Monday to Friday excluding UK public holidays.
You are able to transfer some or all of your shares to your spouse/civil partner if you wish to, subject to Capital Gains Tax allowance. To do this simply issue your instructions online by 6.00pm on Friday 25 September 2026. After that date, to make this type of transfer you should choose to exercise and keep and use the certificate along with a transfer form to complete the process. Your spouse/civil partner will be issued with a share certificate. This can then be used to sell those shares either through a broker of your choice, or online at www.shareview.co.uk
You can also have your savings paid back into your bank account without exercising your Option to buy shares at the Option Price. If you wish to have your savings repaid to you, you can request repayment of savings via the Equiniti Employee Helpline on +44(0)371 384 2135. If your bank details are held on the ESP portal, please check they are correct. Any bank changes can be made by employees as these are no longer provided by payroll.
Subject to the rules of the Sharesave Scheme, you will retain the right to exercise your Option and buy shares through the 2021 Sharesave Scheme for a period of six months following your maturity date. This six-month period applies even if your savings are returned to you. If you wish to exercise your option within six months of the maturity date please write to Equiniti at Equiniti Limited, Highdown House, Yeoman Way, Worthing, West Sussex, BN99 6DA. Your letter will need to confirm that you wish to exercise your 2021 five-year Sharesave Option, and enclose a cheque for your total savings repayment. The cheque will need to be made payable to ‘Lloyds Bank plc re Mitchells & Butlers’, drawn on a UK bank or building society account in your name.
Your Option will lapse on 1 April 2027 if it has not been exercised by this date. This date will differ for those who have a deferred maturity date. All information in relation to your Scheme including your savings amount and maturity date can be found on the ESP Portal
Your Option will lapse 6 months after the maturity date, your money will be returned and you will no longer be able to acquire any of the shares under Option.
How to make your choice
You can make your choice via the Employee Share Plans (ESP) Portal.
Visit esp-portal.com You will need your Payroll number.
- Click Register and follow the instructions on screen.
- If you have an @mbplc.com email address, please use that. You'll be emailed your activation code.
- If you don't register with an @mbplc.com email address, your code will be posted out to you.
Log into esp-portal.com
Click on the 'I want to' section and follow the instructions.
Maturity Timetable
| Instruction Received by EQ | Normal Exercise Date* | Choices Available |
|---|---|---|
| Friday 18 September 2026 | Thursday 01 October 2026 | Sell, Transfer or Keep |
| Friday 25 September 2026 | Monday 05 October 2026 | Sell, Transfer or Keep |
| Friday 02 October 2026 | Monday 12 October 2026 | Sell, Transfer or Keep |
| Friday 09 October 2026 | Monday 19 October 2026 | Sell, Transfer or Keep |
| Friday each week | A week the following Monday (10 days post cut-off) | Sell, Transfer or Keep |
The last date you can submit an instruction (if you have not missed any payments) is Wednesday 31 March 2027 and this instruction will be processed on 12 April 2027.
The maturity instruction placed is irrevocable which cannot be cancelled nor amended under any circumstance. If multiple instruction channels are made available, the first instruction received will be processed. All instructions are dated and time recorded.
If you have deferred contributions, the first available Exercise Date will be delayed by the number of months you have deferred. You will need to submit your instructions in the ESP Portal within 6 months of the first Exercise Date. This means that you will not be able to transfer your shares to an EQi Flexible Stocks and Shares ISA or transfer to your spouse/civil partner as a maturity choice via the ESP Portal. If you wish to transfer them to an EQi Flexible Stocks and Shares ISA, you will need to transfer them to a share certificate first. For deferred maturities where a maturity instruction is placed prior to savings contract completion and the choice elected is no longer offered at the point of allotment, the default maturity choice 1 certificate will apply.
For fees and charges relating to the sale of shares, please refer to the Share Sale Service Terms and Conditions which are available here and on the ESP Portal.
*Bank Holidays may necessitate a change to this schedule.
Tax information
Information on the UK tax position regarding your 5 year SAYE
Frequently Asked Questions
For more information on Sharesave please read through our FAQs