Spring offers its shares to contractors



Tina Milton

Recruitment agency Spring is offering IT contractors an option on 5,000 of its shares. Contractors who register before midnight on...



Tina Milton

Recruitment agency Spring is offering IT contractors an option on 5,000 of its shares. Contractors who register before midnight on February 9, will be offered the subscription price per share for at the lower of 190p.

To qualify, contractors must fulfill a list of Spring's criteria including registering on the Spring.com web site and being accepted by Spring, providing their services through Spring at one or more customer organisations for at least two out of the next three years, and updating their skills and availability through the Spring.com web site at no more than six monthly intervals.

Karl Chapman, chief executive of Spring said, "This scheme offers contractors the opportunity to buy share options in Spring, therefore becoming partners with us as we go forward. Contractors are also encouraged to complete interaction via the web, for paperwork such as online timesheets and billing. "

Chapman says that contractors will receive a certificate of registration if they are accepted into the scheme. At the end of the two years service, if all the criteria of eligibility are fulfilled, contractors can then buy their 5,000 shares.

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