DFS’s employee benefit trust is set to more than double its shareholding in the upholstery group over the next year.
The trust has purchased 1.3million shares, increasing its holding to almost 3.39million shares, or 1.4% of the group.
£5.8m has been raised through the retailer’s Save As You Earn all employee scheme and a contribution from it.
This will be used to buy a further 3.5million shares over the next year. The shares will be used to satisfy the exercise of share options by employees or the release of restricted shares by management.
