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Volume 4, Thursday 19th April, 2007
$15M WIND FALL Written by Les Rochester
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mployees at BHP Billiton’s Olympic Dam project are about to share in a US$15 million share windfall. The company announced last year that it was putting in place a share rewards program for all of its employees worldwide. From April the 1st employees have been able to nominate to take part in the share offer. They can buy BHP Billiton Limited or BHP Billiton Plc shares up to a maximum value of US$5,000 using their own money. In turn these shares will be matched share for share by the company, as long as the employee remains with the company for 3 years. All permanent full-time and part-time employees of any Group company are eligible to participate. BHP Billiton spokesperson Emma Meade said the company employs 1500 workers at the Olympic Dam operation and all are eligible to take up the offer. If all employees took up the maximum allocation, that would mean they would spend US$7.5 million buying the shares, and
the company would match this offer with another US$7.5 million as its one for one contribution. When asked how much the company had allocated to cover the take up of shares from Olympic Dam, Ms. Meade said it was impossible to speculate. But using the company formula, its full exposure to a full take up of shares by its employees would be US$7.5 million. Although the price of shares will vary, because they’ll be bought at market over varying times, the cost remains the same to both the employee and company as the offer is based on a fixed sum of money, not individual shares. Participants must pay for their Acquired Shares using their own funds. To receive the free shares an employee must meet two tests. They must hold the Acquire d Shares for a minimum period of time, 3 years, and still be employed at the end of that time. For offers made in the first year of the program, participants will be entitled to receive a maximum of one free Matched Share for every Acquired Share they continue to hold at the end of three years. Continued on Page 4
Above: One of the horses participating in the Roxby Downs Gymkhana.
Roxby Downs hosted it’s annual Gymkhana on Saturday, April 14. For a full pictorial of the event, see page 9 of today’s paper.
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