Contents. What happens if I transfer my Shares into a Halifax Share Dealing Account? Can I change or stop my monthly contributions?
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1 Contents What is My Share in Nestlé? How do I apply? Is there an application deadline? How does this work? Worked Example Tax and National Insurance implications What happens if I leave NUK? What happens if I decide to withdraw Shares from the Plan or close the Plan altogether? What happens if I transfer my Shares into a Halifax Share Dealing Account? Can I change or stop my monthly contributions? How do I restart my monthly contributions if I have stopped them? How can I keep track of my shares? What are the Shares I will be investing in? How do I find out what the Nestlé SA Share price is? Where can I find out what the Exchange Rate is? Can I choose when the Trustees purchase my Shares? What is a Dividend? When and how will I receive my Dividend? What if I am a non-uk tax payer? What is my eligible pay? Will joining affect my statutory benefits? Will I receive a copy of the Share Certificate? Further information and contacts
2 What is my Share in Nestlé My Share in Nestlé ("the Plan") is a Share Incentive Plan ("SIP") which enables you to invest in Nestlé SA Shares with a potential for Tax and National Insurance savings to be made on your investment. The SIP is based on HM Revenue & Customs legislation which allows employees to purchase Nestlé SA shares in a tax efficient way and hence many of the rules of the Plan outlined below are based on this legislation. The Tax and National Insurance (NI) you will save will depend on the length of time these shares are held in the Plan. See Tax and NI implications located further down this document for more information. You can decide how much you are able to afford to invest each month from as little as 10 per month up to a maximum of 125 per month, providing the amount you invest is less than 10% of your monthly gross eligible pay We have chosen EES Corporate Trustees Limited to administer the Share Incentive Plan on our behalf. As soon as you have enough money in the Plan, the Trustees will purchase a Nestlé SA Share on your behalf. Any brokerage costs incurred through the purchase of the shares will be covered by Nestlé. Any fees associated with the sale or transfer of shares will be payable by employees. We hope that you will join the Plan and that your investment will grow. However, you must always remember that share prices can go down as well as up, particularly in the short-term. Please also note that as Nestlé SA shares are listed on the Swiss Stock Exchange, the value of your investment will also be affected by exchange rates. If you are unsure about joining you should seek independent financial advice. How do I apply? All NUK employees can elect to join the Plan. All Nestlé UK employees will receive an invitation letter (once their eligibility data has been verified) which outlines how to apply and includes a unique Shareholder Reference Number (SRN). You will also receive a PIN which will be sent separately. Once you have these you can log on to the employee plans website at click on the apply link and follow the online instructions. Please Is there an application deadline? This benefit is NOT subject to the deadline for the other benefits in the Flexible Reward options and you can choose to sign up to the Plan in any month of the year. You must submit your online application by the last working day of the month in order for your contributions to commence in the following month.
3 How does this work? Once you have decided on your monthly contribution and submitted your online application, your contributions will begin to be taken from your gross monthly reference salary (subject to the application deadlines) and your contributions will be used to purchase Nestlé SA shares. The flow chart below outlines the process in more detail Decide if you want to join the Plan and how much you would like to contribute each month Complete your application online at The Trustees will advise NUK payroll of the amount you wish to contribute and when your contributions will commence NUK Payroll will check that your monthly contribution does not exceed 10% of your monthly eligible pay. If any of the contribution rules have been breached, NUK Payroll will reduce your monthly contribution accordingly You will begin to make contributions from your gross monthly reference salary, saving Tax and NI on the amount you choose to sacrifice Once there is sufficient money in your fund to purchase a whole Nestlé SA share, the Trustees will purchase the share on your behalf Any money left over will be carried over to the following month and used for future share purchases The Partnership Shares that have been purchased for you will be kept in a Trust looked after by EES Corporate Trustees Limited You will continue to contribute the same amount each month and your funds will be used to purchase shares unless: - you choose to stop or amend your contributions - you choose to withdraw your shares and / or funds from the Trust - you leave NUK
4 Example Below is an example of a Nestlé UK employee who is contributing 100 per month Month Residue brought forward Monthly Contribution Share Price* Partnership Shares purchased Cost of Shares purchased Residue carried forward April May (total 9) Jun (total 14) Jul (total 18) Aug (total 23) Sep (total 27) Oct (total 31) Nov (total36) Dec (total 40) Jan (total 44) Feb (total 49) Mar (total 53) By the end of the first year, this employee has 53 Nestlé SA Shares in the Trust and 67 to carry forward towards future share purchases. If the employee were a 40% tax payer, they would have saved approximately 612 in Tax and NI contributions on the 1,200 contributed over the year. If the employee were a 20% tax payer, they would have saved approximately 372 in Tax and NI contributions on the 1,200 contributed over the year. Each of the shares purchased, has its own individual purchase date and in the event that the employee leaves or withdraws shares from the Plan, it will be determined whether Tax and NI is payable on those shares based on the length of time that has passed since each individual share was purchased and the employee's reason for leaving. *Share price is for illustrative purposes only and does not represent a guide to Nestlé SA's share price over this period. Tax and NI implications As with other Flexible Reward, you would pay into the Plan from your monthly gross reference salary meaning that it is sacrificed from your reference salary before Tax and National Insurance are calculated therefore allowing you to save both Tax and NI on the amount that you choose to invest. Below are examples of the amounts you will save dependent on your tax bracket and the amount you choose to contribute. Please see the Tax and National Insurance information page for details of the tax brackets detailed below. You choose to contribute: You are in the 20% tax bracket You are in the 40% tax bracket 40 per month Monthly savings of 12.40* Monthly savings of 20.40* 100 per month Monthly savings of 31.00* Monthly savings of 51.00*
5 125 per month Monthly savings of 38.75* Monthly savings of 63.75* *Savings are approximate and should be used as a guide only. Your individual savings are dependent on personal circumstances. The savings take into account both the Tax and NI savings made However, in order to get the full Tax benefit from the Plan, you must keep your shares in the Trust for five years. If you sell your Partnership Shares in the first five years after they have been purchased or if you leave NUK, you may be liable for Tax and NI (dependent on the reason you leave). The table below shows the implications if you leave NUK, sell or withdraw your shares before five years from the purchase date: Situation You take your Partnership Shares out of the Plan* within 3 years of them being purchased Implication You will pay Tax and NI on the market value of the Partnership Shares on the date they are withdrawn You will pay Tax and NI on whichever is the lower of: You take your Partnership Shares out of the Plan* after 3 years but before 5 years after the purchase date You keep your Partnership Shares in the Trust for at least 5 years after they were purchased for you - the market value of your Partnership Shares on the day they are withdrawn from the Trust - the market value of your Partnership Shares as at the date they were purchased for you by the Trustees You will have no Tax or NI to pay *Your Partnership Shares are considered to be 'taken out' of the Plan either if you choose to withdraw them, sell them, close the Plan altogether or if you leave NUK. However, whether you will be obliged to pay Tax and NI on the value of the Shares if you leave is dependent on your circumstances. Those who are considered 'good leavers' have no Tax or NI liability. Please read the next section to find out more. What happens if I leave NUK? If you leave NUK you may be liable to pay Tax and NI dependent on a) the reason you leave b) the time that has passed since each of your shares was purchased Regardless of your reason for leaving NUK, you will no longer be able to contribute to the Plan and will be liable for any share dealing fees associated with selling or transferring your shares (see options below) The table below shows whether you may be liable for Tax and NI according to the reason for leaving NUK: You WILL pay Tax and NI if you leave NUK for any of the following reasons within 5 years of your Shares being purchased (Refer to the table You WILL NOT pay Tax and NI if you leave NUK for any of the following reasons, regardless of the length of time they have been in the Trust Your Shares will remain in the Trust but you will not be allowed to make further contributions until your return to NUK if you:
6 above for the level of Tax and NI you will be required to pay) Resignation Dismissal for reasons other than redundancy End of a non-established (temporary) contract Redundancy Injury or disability (excluding LTSD*) Retirement (from the age of 50) TUPE Transfer Death in Service Company Reorganisation Transfer to an associate company, or Go on an overseas assignment *Those on LTSD remain employees of NUK and therefore remain in the Plan If you leave NUK and are liable for Tax and NI you will receive a letter from Computershare Plan Managers (a trading name Computershare investor Services PLC) advising how many shares you have in the Plan, the value of those shares and their taxable value. The Trustees will sell shares to cover your tax liability and offer the options below for your remaining shares. If you leave NUK for any reason you will be given the following options: 1. Sell the shares - you will be charged a dealing fee which is currently 15.00^ 2. Transfer the shares into a Computershare Share dealing account. Please note, you will need to have an open an account before any shares can be transferred. ^ Fees are per transaction, not per share You will not have the option to keep your shares in the Plan or to remove them in the form of a share certificate What happens if I decide to withdraw Shares from the Plan or close the Plan altogether? If you wish to stop contributing and remove you shares from the plan you can do this online at share plans. To stop payroll deductions you will need to select Contributions in the My Holdings tab and change your contributions amount to 0 if you also want to sell or transfer your shares from the plan you will need to complete the Employee form of direction and send to Computershare. You will be given the following option: Sell the shares The Trustees will sell your shares on the same day as they receive the notification from you. The share dealing fee for this is currently You may be liable to pay Tax and NI depending on how many years it is since the shares were purchased. Please see the Tax and NI implications table located further up this document to find out more. If you sell your shares any non taxable funds will be sent to you via your chosen payment method, any taxable funds will be sent to your payroll who will deduct the relevant amount of tax and NIC and pay the balance of funds to you. What happens if I transfer my Shares into a Computershare Share Dealing Account? If you leave the company, you will have the option to transfer your shares into a Computershare Share Dealing Account. However, if you remain in employment you will only be able to transfer Unrestricted or tax free shares To facilitate the holding of Swiss stock and to make trading your Shares easier, we have
7 asked the Trustees to arrange a facility for you to hold shares in the UK, using a form of Nestlé Shares called Crest Depository Interests (CDI's). CDI's are listed in sterling and can be easily traded on the London Stock Exchange. Can I change, stop or restart my monthly contributions? Yes, you can amend the amount you pay each month, stop contributing or restart your contributions online at You will need to select Contributions on the my Holdings tab, click the change option and follow the online instructions. You must submit this change by the 25th of the month (or the next working day where the 25th is a non-working day) in order for the change to be effective in that same month. Any changes received after the deadline will be processed for the following month's payroll. How can I keep track of my Shares? You will receive a statement from Computershare Plan Managers twice per year (in June and December) showing the number of shares you have acquired as well as any cash balance waiting to be invested. You can also logon to at any time to view details of your Plan. What are the Shares I will be investing in? The Plan allows you to invest in Nestlé SA shares. These shares are listed on the stock exchange in Switzerland. How do I find out what the Nestlé SA Share Price is? You can follow the Nestlé SA share price at The share price is quoted in Swiss Francs. Where can I find out what the exchange rate is?you can find the exchange rate between Swiss Francs and sterling using the Universal Currency Convertor at Can I choose when the Trustees purchase my Shares? No, the Trustees purchase the plan shares each month on behalf of all the plan participants and cannot act on individual instructions to purchase shares. What is a Dividend? As a shareholder, you can receive a proportion of the profit that the company makes - this is known as the 'Dividend'. The directors of the company decide how much of the profit will be paid to its shareholders, so in this case it will be the Board of Nestlé who decide on the Dividend payment. When and how will I receive my Dividend? Nestlé SA pay Dividends on an annual basis and the payment to be made is decided in April of each year. Therefore it is expected that any Dividend due to you will be paid to you in April of each year into the same bank account as your NUK salary. When you join the Plan you agree that we can forward your up to date bank details to the Trustees each year, prior to the Dividend payment, in order that they can make payments to your correct bank account. If you are a higher rate tax payer you will have to declare your Dividend payment on your annual tax return. If you are a lower rate tax payer you don't need to declare the Dividend but you could complete a return. For higher rate tax payers this may mean you have to pay further tax on the Dividend. In addition to the any Swiss withholding tax deducted at source, withholding tax of 20% will also have
8 been deducted. You can reclaim this Swiss tax. You will need to complete an HM Revenue & Customs Form 86 (the Reward team ( HR) will have copies of this form or you may request a copy by calling ). Instructions on completing the form and where to send it when complete are included in the form. Computershare Plan Managers will provide you with a tax voucher as a matter of course in June each year. What if I am a non-uk tax payer? Unfortunately, non-uk tax payers are not eligible to join the Plan. If you are a UK tax payer at the time of joining the Plan, and subsequently become a non-uk tax payer you will be allowed to retain any shares and residue funds you have in the Trust but will not be allowed to make any further contributions until you recommence paying UK taxes. If you are unlikely to become a UK tax payer again, you may prefer to leave the Plan. What is my eligible pay? For the purposes of the Plan, your eligible pay includes your reference salary, contractual shift and contractual overtime pay and your car allowance. Your monthly contribution may not exceed 10% of your eligible pay. Will joining affect my statutory benefits? By contributing to the Plan you may pay less NI because your shares are bought out of your gross reference salary, before income tax and NI are deducted. This can mean that your entitlement to statutory benefits such as Statutory Maternity Pay and any means tested benefits can be affected. If you think you may be affected you should read the HM Revenue & Customs leaflet IR177. You can get a copy of this form from your local tax office or via the HM Revenue & Customs Website at Will I receive a copy of the Share Certificate? No. You will not at any stage receive the physical copy of the Share certificate but will be able to keep track of how many shares you have in the Plan at any time by visiting Further information and Contacts For queries about the My Share in Nestlé Share Incentive Plan, please contact the Share Plan Helpline on or Nestle@computershare.co.uk. For any general FlexAbility queries, please contact the Information and Administration Centre on The information on this Intranet site is a guide to the Plan. Full details are contained in the Trust Deed and Rules, which are the legal basis of the Plan. If there is any conflict between the information provided here and the Trust Deed and Rules or the relevant legislation, the terms of the Deed and Rules and relevant legislation will prevail.
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