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Recruitment firm woos contractors with share offer

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Recruitment firm Spring IT Personnel announced today it will aim to attract contractors by offering 5,000 shares in Spring to professionals at a knock-down price. Applicants for the scheme must apply online before 9 February to take advantage of the offer price of 190p a share or the closing mid-market price on last dealing day before the date of Spring’s shareholder meeting. The offer runs until 9 February 2001. Successful applicants must work through Spring at one or more customer location in two out of the next three years and must update their skills and availability through the site within six-month periods. Some 250 million shares are on offer which is 173 per cent of the current issued share capital. Spring chief executive, Karl Chapman, said in a statement: "We believe the launch of Spring.com combined with the mould-breaking share participation programme gives Spring a competitive advantage in attracting IT professionals to find assignments… This bricks to clicks business model will change the way we do business in the future." ®

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