10 Dec 2012

Turning Employees Into Unitholders

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​The Link Management Limited (“The Link”) regards its employees as the key to its success and has continually pioneering different new policies to create a desirable and attractive working environment. 
 
These new policies include the Employee Unit Purchase Plan (“EUPP”), initially introduced by The Link in July 2012. The first instalment of the EUPP is completed today, with nearly 50% of qualified staff participating in the plan and becoming unitholders in The Link REIT. The total instalment amount is around HK$3 million. Besides, all staff in The Link are given a day of paid leave on their birthday.
 
Employee Unit Purchase Plan (“EUPP”) 
 
Mr. George Hongchoy, Chief Executive Officer of The Link, said, “Our staff should take most of the credit for the Company’s stable business growth over the past 7 years. EUPP, the first employee unit purchase plan introduced in the real estate sector allows the staff to be The Link’s unitholders, from which employees turn themselves into the shareholders (unitholders level). The change of identity broadens the staff’s horizons and helps them to foresee the future prospect of the Company. This can also enhance their sense of belongings but also boost staff morale by encouraging them to develop together with the Company and share the fruitful results.”   
 
The Link’s EUPP subsidizes eligible employees to purchase units of The Link REIT in the open market on a quarterly basis. Participating staff can purchase units of The Link REIT through the supplier of the plan, Bank of China (Hong Kong) by designating a proportion of their monthly salary every 3 months. Subsidies by The Link are based on the number of years worked as well as staff performance appraisal grades and range from 10% to 20% of each eligible staff member’s monthly salary. There are no restrictions on the selling of units. Around 348 employees - around 50% of qualified staff of The Link - participated in the first instalment,making purchases totaling 73,666 units of The Link REIT with The Link subsidizing HK$420,011. The total instalment amount is around HK$3 million.
 
The Link Introduces Birthday Leave as Token of Appreciation to its Employees
 
New generation are attaching more importance to work life balance and would like to celebrate their birthdays in a proactive way. As a result, birthday leave is a staff benefit offered by The Link to cater the needs of its employees. It became effective immediately following the FY2012/13 interim results announcement (8 November 2012).All staff of The Link can enjoy a day of paid leave on their birthdays. If their birthdays fall on a weekend or public holiday, the employee can have their paid leave on the day before or after their birthdays. Mr. Hongchoy said, “The Link places great importance on work-life balance. We believe such tokens of appreciation encourage our employees to be more devoted to their work. We will continue to cater our staff’s need and introduce different benefits and policies, assisting them to develop and grow both personally and in their careers.”
 
About The Link’s Employee Unit Purchase Plan (“EUPP”)           
 
The Link’s Employee Unit Purchase Plan is the first of its kind in Hong Kong’s real estate sector. Eligible staff members, including all junior as well as managerial grade staff of The Link, can purchase units of The Link REIT available in the market through Bank of China (Hong Kong) by designating a proportion of their monthly salary each quarter. Subsidies by The Link will be based on the number of years worked as well as staff performance appraisal grades. Purchased units will be deposited into staff members’ personal investment accounts at Bank of China (Hong Kong). Senior management of The Link are not eligible to take part in this new plan.

 

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