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The diversified Hayleys conglomerate has announced that it is proposing the implementation of a Share Option Scheme for its employees "to drive performance improvements," but have given no details.
Some of the other major conglomerates in the country including JKH and the Commercial Bank of Ceylon have Employees Share Option Schemes that have been operative for a long time.
In Hayleys case, while key executives were given substantial share allotments of group companies like Haycarb, Dipped Products and Hayleys Exports that were quoted on the Colombo Stock Exchange at the time they were listed, there have been no generalized ESOPs.
However, many Hayleys directors have substantial minority interest in several of the unquoted group companies including H.J.S. Condiments, Hayleys Agro Products, Ravi Industries, Toyo Cushion, Volanka, Infocraft, Hayleys Advantis and Hayleys Consumer Products.
