Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be...

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Edwards Sharesave 2012

Transcript of Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be...

Page 1: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

Edwards Sharesave 2012

Page 2: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

2The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

About Edwards

• Edwards is a leading manufacturer in vacuum technology and abatement, including semiconductors, flat panel displays, LEDs and solar cells.

• 3,300 full time employees based in 18 countries

• We are a Cayman Islands incorporated company listed on the NASDAQ

• HQ based in Crawley, UK

Page 3: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

3The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

About the Scheme and why we launched

• CEO was very keen to introduce an International Sharesave Scheme as soon as possible following the IPO

• The Sharesave Scheme rules were drafted as part of the IPO process

• At IPO, Board approval was given for the 2012 launch to be fast tracked

• Equiniti were asked for a proposal to operate the International Share Scheme as the Administrator and launch in 17 countries within 8 weeks

• The plan was launched in all countries regardless of employee numbers

Page 4: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

4The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Share Plan Strategy

• Our main objective was to encourage widespread share ownership as a base for future employee engagement

• All employees were invited to join who were employed at the date of 1st August 2012

• Attract and retain the best people

• Strengthen corporate identity

• Focus on including the Asian countries

Page 5: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

5The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Project Team

• Equiniti were appointed as Share Plans Administrator

• Weil, Gotshal & Manges were our external legal advisers

• Edwards team included HR, Company Secretariat, Tax & Treasury and Communications

• Local Sharesave Coordinators were appointed in each market

Page 6: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

6The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Communications Look and Feel

• A theme for the launch was agreed to reflect the success of the opening trading day on the NASDAQ Stock Market, using the CEO as a familiar face across the globe

• Due diligence undertaken in each country to ensure global compliance

• Translated all documents into 9 different languages to ensure a good understanding of the Scheme

• Global branded online Portal for all countries

Page 7: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

7The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Documents

• Teaser campaign posters were distributed and displayed

• CEO invitation letter distributed to all employees

• 4 scheme brochures translated into 9 different languages

• Country specific tax guidance notes

• Scheme Terms and Conditions

• FAQ’s which was an evolving document based on queries received

Page 8: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

8The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Delivery

• Invitation letters were mailed out or sent by a mail merge to local coordinators for distribution, dependant on their choice.

• Edwards branded online Portal

• Strong partnership between central team at Edwards in the UK and local coordinators

• Regular weekly calls between Edwards central team and market coordinators and Equiniti

• Local coordinators held employee briefings to increase awareness and understanding amongst employees.

Page 9: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

9The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Website

• The Edwards online Portal contained all the Scheme information

• This included all the invitation documents, tax guidance notes, and details of the coordinators

• The Portal was accessible to all employees via the Edwards intranet and the Internet

• Email address which came through directly to Edwards project team

Page 10: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

10The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Example of Website

Page 11: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

11The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Stats/Take-up

• Total take-up of 48% across the whole International Scheme

• Take-up of 61% in the UK and 43% overseas

• The take-up was so good that it substantially exceeded the number of shares available

• All applications were honoured up to the local equivalent of £200 per month

Page 12: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

12The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Summary

• We feel we have achieved our aims of encouraging share ownership due to the level of take up

• Strong internal and external relationships

• High level of understanding of the plan mechanics within the employee population due to documentation being provided in local language

Page 13: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

13The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Next Steps for 2013

• Shareholder approval of more shares to launch future invitations

• Gathering feedback from countries with a lower take-up to identify why employees in some countries did not apply

• Surveying the local Sharesave Coordinators

• Starting off the 2013 launch planning process very early

• 2013 Launch

Page 14: Edwards Sharesave 2012. 2 The content of this presentation is confidential and should not be distributed to a third party without prior authorization.

14The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2012 The content of this presentation is confidential and should not be distributed to a third party without prior authorization from Edwards. © Edwards Limited 2013

Any Questions?