An Exeter-based PR and marketing agency has announced its transition to an Employee Ownership Trust (EOT).
Absolute PR and Marketing said the deal symbolises a 'bright future' for the agency and its employees. Founder and owner, Rachel Whitson has sold a 90% stake in the business to the EOT, after steady growth, during the agency's 23 "successful years".
As majority shareholders, all eligible employees will benefit from a greater say in how the agency is run and will receive a share of any profits each year. This means following 12 months’ service, employees will become ‘co-owners’ and beneficiaries of the company’s profits which include up to £3,600 tax-free financial rewards each year, per person, in addition to their annual salary.
