If you decide to sell your shares, your sale proceeds will be sent
directly to the bank account that your Asda salary is paid to within
8 working days from the settlement date of the sale (the settlement
date is 3 days after the sale).
If there is an amount left in your savings account after exercising
your option (i.e. less than the price of one share) this will also
be sent to your bank account. As there is no
settlement period for this amount it may arrive before the proceeds
of the sale.
If you decide NOT to take Choice 1 or 2 and just withdraw your
savings and bonus this would total £1,830. By doing this you would
not benefit from any difference between the option price and market
price of the shares, and in the above example, MISS OUT on the
If you want to receive a cheque for the sale of your shares you will
need to e-mail email@example.com by the 18 May 2012.
If you want to take a repayment of your savings you will need to
contact the Asda Sharesave Helpline on 0800 023 2093 after the
maturity date of the 1st June 2012. You will need your Walmart
Number and your Sharesave Account Number shown on your Maturity
What about tax?
There is no income tax to pay as a result of exercising your share option or taking your savings and bonus. You may have to pay Capital Gains Tax (CGT) if you sell your shares at a profit (this is the difference between the cost of buying your shares when you exercise your share option at £27.45 per share and the price you sell them for).
The government currently allows you to make a certain level of
capital gains in each financial year without being taxed. If your
gain (which must include any other profit you have made within the
tax year) exceeds the current exemption limit, you will have to pay
tax on any gain above this limit.
The CGT limit for 2012/2013 is £10,600. If you are unsure about
buying shares or your tax position, you should consult an
independent tax adviser.
If you choose to close your account and take your saving and bonus as cash, a cheque will be issued to your home address within 10 working days of your request.
*Subject to applicable sale fee and applied
exchange rate. Remember, share prices can fall as well as rise and
the applied exchange rate will fluctuate. Therefore, the figures in
the above example, and the value of your option will change
depending on the current price of Walmart shares and the applicable
exchange rate. For an indication of the current Walmart share price
please see the WIRE.
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