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Last Updated: Tuesday, 21 February 2006, 12:16 GMT
Tesco workers share 111m bonus
Tesco trolley
The scheme allows staff to purchase shares at a discount price
About 50,000 Tesco staff are to share in an 111m windfall, due to two company share option schemes maturing.

Under the plan, staff at the supermarket operator set aside between 5 and 50 from their monthly salary over a three or five year period.

When the scheme matures they have the option to buy Tesco shares at the price set when they joined the scheme.

This year's payout is up on the 106m shared by staff in matured share options last year.

The option price is set at a discount of about 20% to the quoted share price at the start of the scheme.

Staff are free to sell their new shares at a profit or keep them as a long-term investment.

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