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Maunsell offers employees shares

MAUNSELL IS gearing up to offer shares in the company to its 3,000 permanent staff.

The move is the direct result of the consultant's decision four months ago to merge with US engineering consortium AeCOM. The group will offer all employees the opportunity to own a part of the business (NCE 1 May).

Final documents for the Maunsell share plan, including the price, are being drawn up with the offer to employees expected in December.

Present Maunsell shareholders number 167 senior staff.

In the US, 5,000 employees at all levels own shares in the AeCOM business and have been investing around $12M (£7.5M) in the group each year.

Shares are valued every quarter by an independent valuer and compound growthper annum over 10 years has been 12%.

'We would be disappointed if half our staff didn't take up the offer, ' said Maunsell group chief executive David Odgers.

The company is expecting the share plan to help it retain and attract staff. 'We have had a number of senior, experienced people who were with us years ago phone and say they are ready to come back, ' said Maunsell chief executive Peter Head.

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