Source: Employee Ownership Association
Savant Limited specialises in developing software for the clinical, medical and healthcare sector – NHS Blood and Transplant (NHS BT) is one of its biggest clients. The company employs 40 people in its offices in Cumbria and has an annual turnover of £3.5 million.
In July 2001, Savant's employees took over ownership of the company from the two retiring co-founders, who had run the company as a family business since 1982. The employees use an Employee Benefit Trust (EBT) to hold 100% of the shares –employees hold nominal shares, allocated on the basis of salary, in the trust, but do not own shares in their own name.
Staff share in the profits of the company through a twice-yearly dividend based on their nominal shareholdings. In 2007, dividends of 5% and 30% of salary were paid.
Publication Date: 2009-01-01