VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2011) - People Corporation (TSX VENTURE:PEO) announces the launch of the Employee Share Ownership Plan ("ESOP"). At the Company's 2011 Annual General Meeting, shareholders approved the adoption of the ESOP.
"This is another important milestone in the building of our organization and the execution of our strategy," said Laurie Goldberg, Chief Executive Officer. "Our Employee Share Ownership Plan allows all our employees to participate in the growth and success of our organization. At the same time, it delivers an additional value proposition to those people that choose to join our organization and have great careers. After all, we are in the people business, so we felt it was important to deliver what we believe in."
The ESOP provides employees with the opportunity to purchase shares through regular payroll deductions. The Company will purchase shares from the market through a third party administrator and will match the employee's purchase at a rate of one share for every four shares an employee purchases subject to a number of limitations.
"We believe this will be yet another competitive advantage in the marketplace for quality and high performing talent in our industry. Few companies in our space offer an ESOP or even have the ability to offer this type of program. With this ESOP, we are saying we want to attract, retain and incent the best people and this is the place to join if you want a long and prosperous career in Group Benefits, Group Retirement and HR Consulting in Canada," said Mr. Goldberg. "Further, this is good for clients as we know they care about having the best people on their service team, long term continuity of their service team and people who are committed to doing the best job they can for their client."
Mr. Goldberg went on to say, "From a shareholder perspective, we also believe this is good news. The ESOP program will facilitate improved company performance by way of additional talent attraction and retention, allow for broader share ownership, and improve the overall liquidity of the shares. We are excited about the program, and are proud we are in a position to provide this benefit to our employees."
About People Corporation
People Corporation is a leading employee benefits, group retirement, and HR consulting firm in Canada. With a growing national footprint of fourteen offices, People Corporation is bringing together the leading consultants in the industry, offering innovative and customized HR, benefit and pension solutions to its clients. Additional corporate information is available at www.peoplecorporation.com.
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