National law firm Gateley Plc has launched its all employee sharesave scheme.
CEO Michael Ward said: “Part of our rationale for becoming a plc was to give us a greater range of options to attract and incentivise talented people. In other firms, having an equity stake in the business is an opportunity open only to a small number of partners. At Gateley, it is open to all employees.
“When we floated, we gave our employees shares. This new scheme allows all staff to save and acquire shares. I am really pleased by the numbers choosing to join the scheme. It is a huge sign of their confidence and commitment to the business, which continues to perform well.”
In 2015, Gateley made legal history by becoming the first UK law firm to float on the Alternative Investment Market (AIM) of the London Stock Exchange. The new sharesave scheme is one of a number of initiatives delivered post-IPO as part of Gateley’s growth strategy.
As a plc, Gateley is able to acquire complementary businesses to enhance its client offer and market reach. Earlier in the year, Gateley completed its first acquisition, buying tax incentives advisory business Gateley Capitus for a total consideration of £2.72 million.
Led by directors Aubrey Calderwood and Kevin Meyer, Gateley Capitus provides tax advisory and consultancy services in relation to capital allowances, international tax depreciation, investment incentives (for regeneration and sustainability) and R&D tax reliefs.
This was followed up in September by Gateley’s second acquisition, buying Birmingham-based specialist property consultancy Hamer Associates in a £2.05 million deal.
Hamer Associates, renamed Gateley Hamer, was founded by chairman Charles Hamer in 2000 and specialises in providing expert advice across the UK in easements and wayleaves relating to utilities infrastructure, and compulsory purchase and compensation.
In its first year as a plc, Gateley delivered a strong financial performance. Revenue increased 10.2% to £67.1 million, with profit before tax up 12.2% to £11 million.