Part owners of Mekong Modelling Associates move to ensure employee ownership and wider participation
JBA agrees a new share ownership structure for the future
In its nineteenth year of business JBA has taken further steps to widen employee ownership of the company and ensure its continued independence.
Existing employee shareholders have approved the creation of a new Employee Benefit Trust (EBT). The EBT will exist for the benefit of all JBA staff and facilitate the significant widening of employee ownership from the current 42 shareholders to it is hoped upwards of 100 within 4 years.
The long-standing company policy that the only people who can own shares are JBA employees will remain and the EBT will promote, encourage and facilitate the distribution of shares to eligible staff. More widely the EBT will exist for the benefit of all employees. Limits on the number of shares which any person is permitted to own will promote and facilitate collective ownership of the company and ensure that JBA’s independence from acquisition or buy-out is assured.
Executive Chairman Jeremy Benn “ We’ve always valued our independence and sought to promote employee ownership of JBA. We’ve been looking at the opportunities presented through establishment of an Employee Benefit Trust for some time. The continued growth and success of our company, together with the current climate of acquisition by ever larger and larger mega-corporations means now is the right time to set out the future ownership structure of JBA. The EBT will ensure ownership is widened across staff together with the long term sustainability of our independence”.