At Kingfisher, the driving force of our business is our 77,000 colleagues, who work hard every day to look after our customers.
We have a unique collection of home improvement, trade and discounter brands, whose customers trust us to be at our best and do our best as we build a successful Kingfisher. For us, a key part of this is also about building a responsible and inclusive business – one that believes each and every one of its colleagues should have the opportunity to share in our collective future.
That’s why we launched the ‘1+1 Sharing in Our Future’ plan in September 2020. We gave all Kingfisher colleagues the opportunity to become shareholders, or where that wasn’t technically possible in some countries, mirror shareholders – and we doubled their number of shares.
A share or mirror share purchase plan for all our colleagues who, every day, power Kingfisher.
Please note:
This page outlines the details of the 1+1 Sharing in Our Future Plan launched in 2020 – it will give you an overview of how the plan works. However, the plan isn’t currently open for new enrolments.
What does it mean to be a Kingfisher Mirror shareholder?
Although we aren’t able to use real shares in Vietnam we want this Plan to feel as much as we can like it would be to be a real shareholder.
Kingfisher shareholders, own part of Kingfisher. They become eligible to:
- Receive dividends – small payments which may be made to shareholders depending on Kingfisher’s performance
You won’t be able to vote at the Annual General Meeting but if dividends are paid to shareholders we will mirror those dividends and you will be eligible to receive the same benefits.
As people all over the world buy and sell Kingfisher shares the value of the shares will be impacted by the share price. The share price changes throughout the day and as we will replicate this movement with your Mirror Purchased Shares and Mirror Matching Shares you may see they can fall as well as rise in value.
Becoming a Kingfisher mirror shareholder is embarking on a journey – like all colleagues who join the 1+1 Plan, you will share in the company’s future.
How does the plan work?
The 1+1 Plan is a simple, accessible and convenient way for you to become a Kingfisher Mirror shareholder in just a few steps.
Enrol
Contribute
Purchase
1+1 Match
Hold
Unlock
For the 1+1 Plan terms and conditions, and Plan Rules, please see bottom of the page
Want to know the 1+1 Plan details without the jargon? Please read the Key Facts for a quick and thorough explanation of the 1+1 Plan.
View key factsWant to see what this looks like?
The purpose of this example is to provide you with an illustrative walkthrough of the lifecycle of the 1+1 Plan from the point that you choose to enrol through to the cash out of any Mirror Shares and associated Mirror Dividend Shares. This example should be read in conjunction with the “key facts” about the 1+1 Plan.
This example is based on a colleague contributing USD 25 a month to the 1+1 Plan.
Participation in the plan is entirely voluntary. Share prices can go down as well as up, and although you will not hold any Kingfisher shares under the plan you may receive less money back than you originally contributed to the plan.
You decide you want to contribute USD 25 per month. In some countries there is a paper form that you also need to complete for your application to participate to be valid. If this impacts you, you will be sent the form at the end of the enrolment period.
Your contributions are made monthly through payroll and converted to Pounds Sterling at the prevailing exchange rates each month.
| Date | Exchange rate | Contribution |
|---|---|---|
| January 2021 | 1.374 | £18.19 |
| February 2021 | 1.351 | £18.50 |
| March 2021 | 1.390 | £17.99 |
| April 2021 | 1.395 | £17.92 |
| May 2021 | 1.404 | £17.80 |
| June 2021 | 1.390 | £17.99 |
| Total | £108.39 |
If you decide to leave the plan during the Contribution Period, you will receive the value of the contributions you have already made converted back into your home currency.
If you leave in April 2021 and the exchange rate is GBP 1: USD 1.395 then you would get back £18.19 + £18.50 + £17.99 = £54.68, which converted back into USD = USD 76.28. This is more than your original contributions of USD 75.
Remember that you may receive back a higher or lower amount to that which you contributed in your home currency due to fluctuations in exchange rates.
If the Kingfisher plc share price in July 2021 is £2.75 and you have made £108.39 in contributions, £108.39 divided by £2.75 means you will be awarded 39 Mirror Purchased Shares and £1.14 will be returned to you through payroll. If the exchange rate was GBP 1: USD 1.395, this would be USD 1.59.
In addition to the Mirror Purchased Shares, you will be given the right to receive 39 Mirror Matching Shares in July 2022. If you keep the Mirror Purchased Shares until July 2022, you will hold 78 Mirror Shares, double the number of Mirror Purchased Shares you were awarded.
This ignores the impact of any dividends Kingfisher may pay between July 2021 and 2022 – see below for further details.
If Kingfisher decides to pay a dividend to shareholders after July 2021, you will be entitled to receive the value that would have been paid had you actually owned Kingfisher plc shares in respect of your Mirror Purchased Shares. The value you are entitled to will be used to allocate Mirror Purchased Dividend Shares to you. If there are not enough funds to allocate a whole Mirror Purchased Dividend Share, any excess amount will be rolled over and added to any value due to you at the next dividend event to allocate more Mirror Purchased Dividend Shares to you.
Your Mirror Matching Shares will also attract value in the same way, and this will be used to allocate Mirror Matching Dividend Shares to you. As with your Mirror Purchased Dividend Shares, if there is not sufficient value to allocate a whole Mirror Matching Dividend Share, any excess value will be rolled over and added to any value due to you at the next dividend event.
November 2021 – Dividend
If in November 2021 a dividend of £0.05 per share is paid and the Kingfisher plc share price at the time is £3.00:
You have 39 Mirror Purchased Shares, so the value of the dividend payment is £1.95. This is not enough to allocate a Mirror Purchased Dividend Share so the £1.95 will be rolled over and added to any value due to you at the next dividend event.
Similarly the £1.95 in respect of your Mirror Matching Shares will also be rolled over.
May 2022 – Dividend
If in May 2022 a dividend of £0.06 per share is paid and the Kingfisher plc share price at the time is £3.10:
You have 39 Mirror Purchased Shares so the value due to you is £2.34. But you also have an entitlement £1.95 from the November 2021 dividend event, giving a total of £4.29. This means one Mirror Purchased Dividend Share can be allocated and £1.19 will roll forward.
Similarly, you will be allocated one Mirror Matching Dividend Share and £1.19 will roll forward.
Cash out before July 2022
If you decided to cash out your Mirror Purchased Shares and Mirror Purchased Dividend Shares after the May 2022 dividend event (but before July 2022) and at that time the share price is £3.10, the following would happen:
39 Mirror Purchased Shares cashed out for £3.10 each = £120.90
1 Dividend Mirror Purchased Share cashed out for £3.10 = £3.10
Total £124.00
£124 would be converted to US$ at the prevailing exchange rate, for example GBP 1 : USD 1.330 = USD 164.92.
You will not be paid the £124 value of your 39 Mirror Matching Shares and 1 Mirror Matching Dividend Share because you have cashed out your Mirror Purchased Shares and Mirror Purchased Dividend Shares before July 2022.
Assuming you have not cashed out any of your Mirror Purchased Shares or Mirror Purchased Dividend Shares, all your Mirror Shares will be cashed out automatically.
Assuming a share price of £3.10:
39 Mirror Purchased Shares = £120.90
1 Mirror Purchased Dividend Share = £3.10
39 Mirror Matching Shares = £120.90
1 Mirror Matching Dividend Share = £3.10
Total £248
£248 would be converted to US$ at the prevailing exchange rate, for example GBP 1 : USD 1.330 = USD 329.84.
Tax will be due on your Mirror Matching Shares and Mirror Matching Dividend Shares at this point. The tax will be deducted and paid over through payroll and you will receive the proceeds through payroll.
Remember there may still be additional tax to pay on your Mirror Purchased Shares and Mirror Purchased Dividend Shares (see Tax Fact Sheet).
Additional resources
Is the 1+1 Plan right for me?
We have set up the 1+1 Plan because we believe that as a responsible business, it’s part of our DNA to be inclusive and offer each and every one of our 77,000 employees the opportunity to become shareholders or Mirror shareholders. Because we’re a responsible business, we are also aware of our colleagues’ wellbeing, including financial. In some cases, and especially in difficult economic contexts, joining the 1+1 Plan may not be the right thing for you.
We’d be excited if you decided to join, but only if you feel this is right for you, as your wellbeing is of paramount importance to Kingfisher. You can also change your mind – but please note that once you opt out of the 1+1 Plan, you can’t come back.
What’s the best way to make the decision?
Talk it out – with your friends and family especially. Ask yourself questions, for example:
- Can I afford to contribute every month for 6 months?
- What is my likely reaction if the value of my Mirror Purchased Shares and Mirror Matching Shares drops?
And finally, make sure you understand about the 1+1 Plan, which is all on this page, including a list of frequently asked questions.
Joining the 1+1 Plan is your decision – and yours alone.
Need Support?
Contact usDisclaimer
Please read the Terms and Conditions and Plan Rules before participating in the '1+1 Sharing in Our Future' Plan. You will be deemed to have read these documents and to agree to all Terms and Conditions and the Rules if you apply.
As with any investment, it is important to note that there are risks in owning your Mirror Purchased Shares and Mirror Matching Shares. While the trading price of these shares can go up, the trading price can go down as well.
This information on this site does not constitute the giving of investment advice, nor a part of any advice on investment decisions. If you are in any doubt about the contents of this document or what action you should take, you are recommended to seek your own personal financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser duly authorised under the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or another appropriately authorised independent financial adviser if you are taking advice in a territory outside the United Kingdom.
Please note, neither the Company, nor any of its executives or advisers are providing you with legal or tax advice in connection with the 1+1 Plan. If you feel that you need legal or tax advice you should seek your own personal advice from an appropriately qualified person.
