Frequently asked questions.

No, as the SAYE Scheme is not an Irish Revenue tax-advantaged SAYE Scheme, there is no tax-free bonus and no interest will be paid on the savings.

The Market in Financial Instruments Directive II (MiFID II) regulations requires companies such as Equiniti Financial Services Limited to provide additional information to the Financial Conduct Authority (FCA) about share transactions. The aim is to increase customer protection and prevent market abuse. Because of this, Equiniti may need to collect additional information from you including your nationality and National Client Identifier (NCI) when processing your transaction. Equiniti will need to know your nationality and National Client Identifier (NCI).

The good news is, for Irish nationals, the NCI will be the combination of your Name and Date of Birth and, as Equiniti hold this information, you will not need to provide anything further. If you’re a non-Irish national or hold dual nationalities, for example, French or UK and Ireland, the NCI you will need to provide for your non-Irish nationality will typically be your passport number or national/personal identity number. As the NCI will differ for each country this information can only be collected online via the Shares Portal.

Equiniti have set up an NCI calculator which you can access by going nationalitycalculator.co.uk

If you have chosen to hold your shares in the TGSA you will be sent a confirmation email providing details on how to access your shares online via the Shares Portal. Within the Shares Portal you will also be able to sell your shares online. More information about the TGSA including the dealing charge for selling shares is available in the TGSA Colleague Guide

For every payment (i.e. SAYE deduction from your four-weekly pay) missed, the maturity date of your Scheme will be deferred and you’ll continue to have deductions taken from your pay until you’ve completed your savings Scheme contract duration. You'll find your Scheme End Date on the Shares Portal or the letter you received about your SAYE scheme maturity.

No, the Scheme Rules do not allow you to transfer your savings and bonus from this scheme to a new scheme.

If you choose to take your savings in cash, you will not pay Income Tax, Universal Social Charge (USC) or Pay Related Social Insurance (PRSI).

If you choose to maintain and exercise your Option within the six month timeframe, the exercise gain will be subject to Income Tax, USC and PRSI. Payroll Team will either deduct this from salary, or from your sale proceeds if you have elected to sell. The remaining proceeds will be paid to you in the next available salary (subject to payroll cut-off dates).

Selling Shares: When you choose to sell shares, CGT may apply (currently at 33%). The gain/loss is calculated on the difference between the market value of the shares when you exercised your share Options and the market value of the shares when disposed. If the gain/loss on disposal, when added to any other capital gains/losses incurred by you during the relevant tax year, is more than €1,270, CGT may be payable.

Dividends: If you earn any dividend income from the shares, you are responsible for reporting and paying any Income Tax, USC and PRSI to Revenue. As tax law changes from time to time, it is advisable that you seek independent tax advice if you are in any doubt regarding your tax affairs.

Commission is charged on the sale of these shares. The commission is 1.0% of the value of the sale with a minimum fee of £30. There will also be a 0.5% fee for the conversion of the sale proceeds to Euros. The sales facility is subject to achieving a minimum sale price of £2.19 per share. Therefore, there is a small risk that you could get back less than the amount you have saved.

Your sale proceeds will be sent directly to your Payroll Team who will then make the necessary deductions for Income Tax, USC and PRSI. Payroll Team will then pass on the remaining proceeds in the next available salary (subject to payroll cut-off dates).

This limit has been put in place so you are not able to buy shares if the share price is below the Option Price. If the Tesco share price is below £2.60 your sale request will not be processed and your instruction will be carried forward to the following week.

Your Option to buy shares at £2.60 will lapse six months after your Scheme End Date (please see your online Shares Portal). Your savings will be repaid to your Payroll Team. Payroll Team will then pass on the savings in the next available salary (subject to payroll cut-off dates).

Remember that the Equiniti exercise and sale service (Choice Three) is only available until 6pm on 30 September 2025.

The Tesco Share Price can be found at tescoplc.com

If the Tesco PLC share price is below the Option Price when your instruction is carried out, your Option will not be exercised and your instruction will be carried forward to the following week.

When you received your Option Certificate at the beginning of the Five Year SAYE Scheme, it indicated the “maximum number of shares” under Option in this Scheme. This was determined by the amount to be saved, the Option Price of £2.60 and the exchange rate at that time (£1 = €1.198016). So, regardless of exchange rate movements, the maximum number of shares that you can buy is limited to the number of shares you would have received if the exchange rate did not change. If the Euro has strengthened against Sterling at the time of exercise, you can buy up to the maximum number of shares. Any excess cash that cannot be used to purchase shares on the date of exercise will be refunded to your Payroll Team. Payroll Team will then pass on the refund in the next available salary (subject to payroll cut-off dates). If the Euro has weakened against Sterling, the number of shares you can buy will be reduced. The number will be determined by your savings and bonus, the Option Price and the exchange rate at the time of exercise.

If you need more information about your SAYE Scheme please call the Equiniti Employee Helpline on +44 (0)371 384 2876. Lines are open 8.30am to 5.30pm (UK time) Monday to Friday (excluding public holidays in England and Wales).