PLEASE NOTE THE 2024 SHARESAVE INVITATION PERIOD CLOSED ON 4 OCTOBER 2024
Sharesave, also known as Save As You Earn (“SAYE”), is a great way for you to save each month and share in Costain's future success that you help create. Sharesave is a simple and safe savings plan that offers eligible UK employees the opportunity to save direct from net pay over three years and to buy shares in Costain at a discounted price which is set at the start. There's no obligation to buy shares at the end of the savings contract; you can simply take back your savings and interest in the form of a 'bonus'.
Option Price
81.2p
The Option Price is set at a discount to the average closing price of a Costain Group PLC share over the three days 13, 16 and 17 September 2024.
Get the 'EQ Share Plans' app
Key features
Buy shares at a discounted price
Sharesave is an opportunity to purchase Costain ... Group PLC shares in three years’ time at a discounted price that is set now - called the Option Price. Read more
Option Price
The Option Price is set at a discount to ... the average closing price of a Costain Group PLC share over the three days 13, 16 and 17 September 2024. Read more
Choose your savings amount
You can choose to save between £5 and £100 a month (£1.25 ... to £25 a week for weekly paid employees). This amount is set and you cannot change the amount at any time during the savings period. Read more
Receive a ‘bonus’ on your savings
If you complete all your savings contributions, you will receive ... a ‘bonus’ of 1.1 x one monthly contribution or equivalent for weekly paid employees. This will be added to your total savings contributions and will be used to acquire more shares at the Option Price if you choose to buy Costain shares, or paid to you in cash if you choose to take back your savings. Read more
Sharesave is risk free
At the end of the three-year savings period, you can choose ... what you want to do with your savings – you can either buy shares in Costain at the Option Price or take all your savings and bonus back as cash. Read more
Sharesave is flexible
You can close your account at any time if your circumstances ...
change and get all your savings and any interest (but not the full ‘bonus’) back
straightaway. You will not be able to purchase shares at the Option Price if you close your account.
You can also pause making your contributions during the three-year savings period for up to
twelve months if you need that money for something else. Your contract end date (known as the maturity
date) will be delayed by the same number of months as you missed payments but you will lose your
opportunity to buy Costain shares if you miss more than twelve monthly contributions (see FAQs).
Read more
Apply any time during the invitation
Apply from Wednesday 18 September to 6pm (UK time) Friday ...
4 October 2024. Late applications
cannot be
accepted. You can apply at any time during the invitation window and all applications are treated
the same irrespective of when they are submitted.
Read more
Scaling down may be necessary
Your savings are fully protected
Your savings are held by Lloyds Bank plc and are fully ... protected by the Financial Services Compensation Scheme (‘FSCS’). Read more
Choose
Choose how much you’d like to save from your net pay (i.e. after income tax & national insurance contributions) each month, from a minimum of £5 to a maximum of £100 (or £1.25 to £25 for weekly paid employees). If you’re already taking part in any other Sharesave schemes, your total contributions across all your Sharesave accounts cannot exceed £500 per month.
Apply
Join by clicking the 'Apply now' button, log in and follow the instructions on screen. See also How do I join? Alternatively, you can sign up on the EQ Share Plans app available to download from the App Store or Play Store.
Deductions will start from your November pay.
Decide
Once the three years are up, you decide what to do with your savings:
- keep your shares as an investment and become a shareholder
- sell your shares and make a profit (if the share price has risen above the Option
Price)
or - take back all your savings as cash.
You will only be able to join Sharesave during an invitation window but you can register at any time. Please refer to the key dates section for more information on when you can join. Full details are provided to you at the time of the invitation.
You can join Sharesave online using the Costain Share Plans Portal or by using the new 'EQ Share Plans' app.
You will need your National Insurance Number, which you can find on your payslip.
Join Sharesave online on the Costain portal
If you are new to the portal:
- Visit the Costain Share Plans Portal and click 'Register now' and follow the instructions on screen.
- An activation code will be sent to you via email if you registered with your work email address or by post to your home address if you registered with your personal email address.
- If you have used your personal email address you can still apply for Sharesave before your activation code arrives.
If you have already registered on the portal:
- Visit the Costain Share Plans Portal and Log in using your last name, National Insurance Number, date of birth and the password you set up at registration.
- If you’ve forgotten your password you can reset it by clicking on “forgotten your password?”
- Once logged in you’ll be able to apply.
OR
OR
Join Sharesave using the 'EQ Share Plans' app
You can download the 'EQ Share Plans' app for both Apple and Android devices.
Once you have downloaded the app, follow the instructions to log in (using your same log in details for the Costain Share Plans Portal) or to register (see opposite). You will then be able to apply.
Your application
- Decide how much you want to save from £5 to £100.
- The amount you choose to save is fixed at the start of the plan so make sure it’s an amount you can afford. The first deductions will be taken from November 2024 pay.
- Application deadline: 6pm (UK time) Friday 4 October 2024.
- Late applications cannot be accepted.
Note: The application portal includes some generic information applicable to other clients of EQ which is not relevant to Costain.
Need help?
To find out more and view the terms and conditions, visit the portal. Contact the Equiniti Limited (‘EQ’) Helpline on 0371 384 2979 between 8:30am–5:30pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Here are some examples saving either £20, £50, £75 or £100 per month (or £5, £12.50, £18.75 or £25 per week) over three years.
Examples only - Option Price of 85p
| Monthly savings | Total savings after 3 years | Bonus payable | Total savings and interest after 3 years | Shares available to buy after 3 years | Value of shares acquired if share price increases to £1.35* | Gain** |
|---|---|---|---|---|---|---|
| £20 | £720 | £22 | £742 | 872 | £1,177.20 | £435.20 |
| £50 | £1,800 | £55 | £1,855 | 2,182 | £2,945.70 | £1,090.70 |
| £75 | £2,700 | £82.50 | £2,782.50 | 3,273 | £4,418.55 | £1,636.05 |
| £100 | £3,600 | £110 | £3,710 | 4,364 | £5,891.40 | £2,181.40 |
* The above share price is for illustrative purposes only. Share prices go up and down.
** Dealing charges apply at the time of sale of shares.
If the share price is higher than the Option Price at the end of the savings period you can use your savings to buy Costain shares at the Option Price (known as exercising your option). Your shares will be worth more than your savings and you can decide whether to:
- keep your shares and become a shareholder of Costain Group PLC, receive
dividends and share in any future success of the Company;
or - sell your shares and make a profit.
If the share price is lower than the Option Price at the end of the savings period it is not worthwhile exercising your option and you can simply choose to take back all your savings plus bonus as cash.
After 3 years you can buy 872 shares, at an Option Price of 85p, with your £742 total savings.
If the share price increases to £1.35 after 3 years, you could sell your 872 shares for £1,177.20.
*Profit = £435.20
*This does not include any taxes (if applicable) or associated fees of selling.
This is an example only, the share value can change at any time depending on the performance of the Company on the stock market.
After 3 years you can buy 4,364 shares, at an Option Price of 85p, with your £3,710 total savings.
If the share price increases to £1.35 after 3 years, you could sell your 4,364 shares for £5,891.40.
*Profit = £2,181.40
*This does not include any taxes (if applicable) or associated fees of selling.
This is an example only, the share value can change at any time depending on the performance of the Company on the stock market.
After 3 years you can buy 4,364 shares, at an Option Price of 85p, with your £3,710 total savings.
If the Costain share price is lower than the Option Price after 3 years there is no benefit to buying the shares and you can take your savings and interest/bonus back as cash.
Key dates
