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share save pc world
stevetooth
Posts: 4 Newbie
my son worked at pc world and entered into the share save run by yorkshire bs , he had a plan that matured and received the option to buy shares upto about march 2013 he has now left pcw and has been informed that he no longer has the right to buy the shares even though all the payments were paid and the plan matured before he left - could you tell me if its correct/legal considering he could have purchased the shares before he left and is still within the time period given
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Comments
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It's an employee share scheme.
He loses the right to exercise the share options on leaving the company - as he's no longer an employee.
The cash is his.0 -
See the appropriate section here.
http://www.hmrc.gov.uk/shareschemes/employee-guidance.rtf
The way I read it, legally they can let him buy the shares but they don't have to.
(I'm assuming he resigned?)I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Depends on the rules of the scheme. BT allowed me to continue making contributions after voluntary redundancy, to complete the savings requirement, and to go ahead and purchase the shares. You need to read the rules for PCW's scheme.0
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If he could have purchased the shares before he left and that was the rule of the scheme then is there a reason why he didn't?Remember the saying: if it looks too good to be true it almost certainly is.0
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