KUALA LUMPUR, 10 FEBRUARY 2016 - Felda Global Ventures Holdings Berhad (FGV) has announced that it is establishing a Long Term Incentive Plan (LTIP) in the form of its first employee share grant scheme for eligible employees of FGV and its subsidiaries.
The LTIP will see the company purchase up to 10% of its issued and paid-up ordinary share capital (excluding treasury shares, if any) over the 10 years duration for award to eligible employees that meet eligibility and performance criteria.
"In an increasingly competitive market, this long term incentive plan will help FGV in attracting, retaining, motivating and rewarding top talent.
"For a global agri-business leader and one of the largest palm oil companies in the world, having the right talent is a key performance differentiator, enabling us to grow further as a Group and ultimately drive improved long term shareholder value.
"We are very pleased to introduce this plan to better reward our dedicated team, without whom we would not be the global company we are today," said Group President and CEO, Dato' Emir Mavani Abdullah.
LTIP will further align interests of employees with the Group, increasing focus on long term financial performance and shareholders' value enhancement via employee equity participation. The increased level of employee ownership will serve as a means of additional motivation, and will have a positive impact on individual performance and contributions to the Group.
"We are excited to begin this new stage of our journey together, and look forward to improved performance and increased value for our shareholders over the long term," said Dato' Emir.
The LTIP will have no dilutive impact on current shareholdings, as shares will be purchased from the market over 10 years. Purchases will be internally funded.