Changes on allocations

Promotions and demotions

Promoted and demoted employees' shares are adjusted to the allocation appropriate and to their new grade based on the remaining term of the ESOP scheme.

Retrenchment, Retirement, Disability and Death

- Retrenchment, retirement and disability are referred to as "applicable reasons" within the ESOP trust deed.
- When an employee exits the scheme as a result of any of these applicable reasons they will retain their share allocation pro-rated to the number of years during which they have participated in the scheme.
- No penalty is applied.

Abscondments and Dismissals

On abscondment or dismissal, the full share allocation is forfeited regardless of the number of years the employee participated in the scheme.


- On resignation from the group, beneficiaries will have to complete a minimum of 3 years' participation in the ESOP scheme in order to retain a portion of their shares.
- If the employee has completed 3 years in the scheme, their share allocation will be prorated according to the number of years that the employee participated in the scheme.