Employee Share Acquisition Plan

Our Employee Share Acquisition Plan (ESAP) was the winner of the national 2007 ESOP of the Year Award.  Presented by the Australian Employee Ownership Association the prestigious award recognised Perilya's benchmark approach to  employee alignment.

Perilya's ESAP is a vehicle to align employees values with the Shareholder, Board and management vision for growth and profitability.

It also acts as an incentive to:

• attract and retain new and existing employees
• foster a sense of ownership among employees
• motivate employees to help achieve and align with business objectives.

Employees are invited to participate with a one-off free issue of shares, equal to 10 per cent of their annual salary.  Employees are also invited to purchase more shares, with the company matching employee contributions, dollar for dollar, up to a further 10 per cent of the employee's annual salary.

Shares acquired under the share plan are purchased on-market by the plan's trustee for the benefit of the employees.

The program was rolled out at the end of the 2005/06 financial year and in its first 12 months, about 60 per cent of employees chose to participate in the ESAP- an unprecedented response and clear signal of employee faith in Perilya's future.

[suspended on 1 September 2008]