Platinum Park Home Services has proudly become an Employee Ownership Trust (EOT).
We would like to take this opportunity to let you know that we have become an Employee Ownership Trust (EOT); this is a very exciting development for our company that means 62% of the shareholding will remain in trust for the benefit of our colleagues.
What is an Employee Ownership Trust (EOT)?
EOT’s were facilitated and created by the Finance Act 2014, to encourage more companies to become employee owned.
Employee ownership is where all employees have a ‘significant and meaningful’ stake in a business.
An EOT places a majority of its company shares into a Trust, for the benefit of its Employees; an EOT may also issue shares direct to Employees as part of share incentive plans.
The shares held in Trust for Employees will provide various benefits to Employees, including a share of any future sales proceeds of the Business, as well as tax free bonuses up to a certain limit.
Platinum ECO Services Ltd (as well as our trading brand Platinum Park Homes Services), is an EOT and is majority owned by its employees.
The current owner of the business decided to create an EOT for his Employees, as part of an ongoing and inclusive approach toward incentivising and rewarding Employees’ commitment and hard work.
See what the Government says about EOT business here
