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 shareholder?
Anyone who owns at least one share in a business or company is a shareholder. Shareholders can be individuals, groups of people, a partnership or an organisation. As a shareholder, you may receive a portion of the company’s profits as a dividend and have a say in how the directors manage the company. A shareholder’s influence over a business is typically aligned with the percentage of shares they own.
When you become a Kingfisher shareholder, you own part of Kingfisher. You become eligible to:
- Receive dividends – small payments which may be made to shareholders depending on Kingfisher’s performance
- Use your shares to vote at the Annual General Meeting – this is an opportunity for shareholders to hold their company’s directors to account, especially on ethical or business performance issues
As people all over the world buy and sell Kingfisher shares the value of your shares will be impacted by the share price. The share price changes throughout the day and you will see that the value of shares can fall as well as rise, so you could get back less than you contributed.
Becoming a Kingfisher 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 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 sale of 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 HKD1,110 to the 1+1 Plan.
Participation in the plan is entirely voluntary. Share prices can go down as well as up, and you may receive less money back than you originally contributed to the plan.
In Hong Kong you will make one lump contribution at the beginning of the contribution period however the portal requires you to input the monthly amount so you need to divide your total contribution by 6 to calculate the monthly amount.
You decide you want to contribute HKD1,100 in total which is HKD185 per month in the portal. 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 in one lump sum at the beginning of the Contribution Period however they are then divided by 6 and converted to Pounds Sterling at the prevailing exchange rates each month.
| Date | Exchange rate | Contribution |
|---|---|---|
| January 2021 | 10.165 | £18.20 |
| February 2021 | 10.000 | £18.50 |
| March 2021 | 10.278 | £18.00 |
| April 2021 | 10.335 | £17.90 |
| May 2021 | 10.393 | £17.80 |
| June 2021 | 10.266 | £18.02 |
| Total | £108.42 |
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 : HKD10.335at that time then you would get back £18.20 + £18.50 + £18.00 = £54.70, which converted back into HKD = HKD565.34. You will also receive the portion of your original lump sum contribution not already converted into GBP = HKD185 x 3 = HKD 555. This is a total of HKD 1,120.34 This is more than your original total contribution of HKD 1,100.
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 £108.42 in contributions, £108.42 divided by £2.75 means you will receive 39 Purchased Shares and £1.17 will be returned to you through payroll. If the exchange rate was GBP 1: HKD 10.010, this would be HKD11.71.
In addition to the Purchased Shares, you will be given the right to receive 39 Matching Shares in July 2021. If you keep the Purchased Shares until July 2022, you will own 78 shares, double the number you purchased.
This ignores the impact of any dividends Kingfisher may pay between July 2021 and July 2022 – see below for further details.
If Kingfisher decides to pay a dividend to shareholders after July 2021, you will be entitled to receive this payment in respect of your Purchased Shares. The dividend payment you are entitled to will be used to buy (i.e. be reinvested into) more Kingfisher Shares. If there are not enough funds from the dividends to buy a whole share, the dividend amount will be rolled over and used along with future dividends to purchase more shares on your behalf.
Your Matching Shares will not attract dividends as you don’t own these shares until July 2022. However, Kingfisher will work out the total dividends which you would have received had you owned your Matching Shares when the dividend is paid, and give you some more Matching Shares, which you will receive in July 2022. These are known as your Dividend Matching Shares.
November 2021 – Dividend
If in November 2021 a dividend of £0.05 per share is paid and the share price at the time is £3.00:
You have 39 Purchased Shares so the total value of the dividend you are entitled to receive is £1.95. This is not enough to buy an extra share so the £1.95 will be rolled over and added to any future dividends.
Similarly, £1.95 will be rolled over in respect of the dividends that your Matching Shares would have attracted had you owned them.
May 2022 – Dividend
If in May 2022 a dividend of £0.06 per share is paid and the share price at the time is £3.10:
You have 39 Purchased Shares, so the value of the dividend is £2.34. But you also have £1.95 from the November 2021 dividend, giving a total of £4.29. This means one Dividend Purchased Share can be bought and £1.19 will roll forward.
Similarly, you will be allocated one Dividend Matching Share and £1.19 will roll forward.
Cash out before July 2022
If you decided to sell your Purchased Shares and Dividend Purchased Shares after the May dividend event (but before July 2022) and at that time the share price is £3.10, the following would happen:
39 Purchased Shares sold for £3.10 each = £120.90
1 Dividend Purchased Share sold for £3.10 = £3.10
Total £124.00
Remember that you have to pay a trading fee of 0.25% or a minimum of £10.00. 0.25% of £124 is £0.31, so the minimum fee of £10 would apply. Therefore your total proceeds are £124 – £10 = £114.
£114 would be converted to HKD at the prevailing exchange rate, for example GBP 1 : HKD 10.300 = HKD1,174.20.
A small fee will be deducted for the currency exchange and the remaining amount will be paid to you through payroll.
You will lose the £124 value of your 39 Matching Shares and 1 Dividend Matching Share because you have sold your Purchased Shares and Dividend Purchased Shares before July 2022
Assuming you have not sold any of your Purchased Shares or Dividend Purchased Shares, the Matching Shares and any Dividend Matching Shares transfer to you and you are free to sell some or all of these, or continue your journey as a shareholder for as long as you wish.
Assuming a share price of £3.10:
39 Purchased Shares = £120.90
1 Dividend Purchased Share = £3.10
39 Matching Shares = £120.90
1 Dividend Matching Share = £3.10
Total £248
Tax will be due on your Matching Shares and Dividend Matching Shares at this point.
If you chose to sell these shares they would be converted to HKD at the prevailing exchange rate, for example GBP 1 : HKD 10.100 = HKD 2,191.70. before transaction or foreign exchange fees.
For as long as you keep your shares, if dividends are paid they will be calculated based on your total number of shares and used to buy additional shares.
When you sell your shares, the value will be calculated based on the share price and foreign exchange rates at the time of sale, less any trading fee and foreign exchange fees. Remember you may have to pay additional tax when you sell your shares (see Tax Fact Sheet)
Remember there may still be additional tax to pay on your Purchased Shares and 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. Because we’re a responsible business, we are also mindful of all 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 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 Purchased Shares and Matching Shares. While the trading price of these shares can go up, the trading price can go down as well.
The contents of this document have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in doubt about any of the contents of this document, you should obtain independent professional advice.
The offer of participation in the Plan does not constitute and this document does not contain an offer or invitation to the public (a) to enter into an agreement to acquire, dispose, purchase, subscribe for or underwrite securities or debentures; (b) to enter into or offer to enter into a regulated investment agreement; or (c) to acquire an interest in or participate in, or offer to acquire an interest in or participate in, a collective investment scheme under the Companies Ordinance or the Securities and Futures Ordinance. The investments to which this document relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be engaged in only with, persons whom are eligible participants of the Kingfisher “1+1 Sharing in Our Future” Plan. Other persons should not act or rely on this document or any of its contents.
