Welcome to the Capita Share Plan Services newsletter. Keeping you up to date on industry matters throughout the year.

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Introduction
Welcome to our latest edition of administrationMATTERS. The recent months have continued to see significant turmoil in the financial markets with share prices and interest rates experiencing ongoing volatility.

There are patterns starting to form with regard to employee reaction to the general downward trend of share prices. We are seeing a mixture of withdrawals from Sharesave in favour of a new grant at a new price and increased investment in SIP as employees see today as a good time to buy their Company shares.

We continue to work with our clients with regards to enhancing or reshaping delivery to ensure their corporate message is adhered to and that any concerns employees have in the current environment are addressed. Clients are now choosing the current circumstance to make use of e-communications thus reducing costs of print and postage, this is being done not just for cost saving benefit but also to ensure delivery complies with company environmental policies. If we can help further in any of these areas then please feel free to contact the Relationship Team directly.

An encouraging development is that some employers are launching Share Plans for the first time. In the last month alone we have received instructions from three companies launching four new all employee plans.

In 2008 we saw a significant switch of business from our competition, I am glad to say that 2009 has continued in this vein and am happy to welcome nine new clients to Capita the most recent confirmed switch being Standard Life.

I would like to thank ifs ProShare, and Baker McKenzie who have supplied articles for this edition. Their opinion on recent events and current issues concerning the Share Plan World is always an interesting read.

Thank you and enjoy the read.

David Kilmartin
Clients Services Director, Capita Share Plan Services

ifs ProShare - aims and current focus

Julie Richardson, Head of Employee Share Ownership of ifs ProShare discusses how to improve Share Incentive Plans

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Operational Update - Service Level Agreement

Large-scale outsourcing of administration...

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A Successful Communications Strategy

A key part of the success of any share plan is...

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Remembering your Share Plans when there is a Corporate Action

When your company undertakes a Corporate Action...

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Share rights and internationally mobile employees

Michael Ingle of Baker & McKenzie discusses some of the key changes made during 2008 to the taxation of share rights held by internationally mobile employees

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Capita Share Plan Services (“CSPS”) is a trading name of Capita IRG Trustees Limited (“CIRGT”), which is authorised and regulated by the Financial Services Authority http://www.fsa.gov.uk/register (register number 184113).

The registered office of CIRGT is The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU, United Kingdom. Registered in England Number 2729260.