Mitie SIP - what happens to computershare?

miamoo

I'm looking for some advice for a friend.
She works for Mitie and has been buying shares through the 'Computershare' scheme for the last 2 years (a set amount taken from wages before tax).
She has a leaflet from work, about Mities 'all-new MITIE share incentive plan', ran by Capita.

She would like to know if the new scheme is a replacement for the computershare plan, if so what happens to the old plan?

Can you invest in both plans?
Can you cash in the old plan, and start investing in the new one?

Can anyone help, thanks

ajbell

Sounds like a bonus scheme of some kind, so seperate from buying them.
I work for Rolls-royce and have a Computershare account.
We have sharepurchase, sharebonus and sharesave and all show up in the Computershare account. They are all the same share, just different methods of getting them.

davidrevis

Hi there, I work for MITIE too and can confirm that the Computershare scheme that you refer to (called the MITIE SAYE scheme) is completely seperate to the new Share Incentive Plan (SIP) scheme.

It is not a replacement for the SAYE scheme, just an additional, different scheme so there is nothing to stop her from investing in both.

The schemes are not interchangable or related in any way.

Hope that helps. If you have any more questions on this, you can ask them on the MITIE people facebook page. (type in MITIE people on facebook search bar as I wasn't able to post the link here)

miamoo

Thats very helpfull, thanks to both of you x