HC Deb 12 February 1987 vol 110 c311W
Mr. Hayes

asked the Secretary of State for Transport if he will make a statement about arrangements for employees to acquire shares in the offer for sale of BAA plc, formerly British Airports Authority.

Mr. Moore

It is our intention that BAA employees should have every encouragement to take a stake in their company when it is privatised. Special arrangements will therefore be made as follows.

Most BAA employees will be eligible for about £100 worth of free shares at the time of the flotation. In addition, the Government will provide two free shares for each share purchased by an employee, up to a maximum of about £400 worth of free shares for £200 purchased. All employees and pensioners of BAA will be able to apply on a priority basis for shares at the offer price.

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