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Dixons staff get windfall from Freeserve sale

£500 if you're on shopfloor, £2.1m if you're chief exec

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Dixons is generously rewarding staff with shares following it flogging ISP Freeserve.

If you're working the shop floor encouraging customers to take out warranties, or have a PC health check, you're in line for a £500 windfall. If you're chief exec John Clare you'll get 882,352 shares worth around £2.1 million.

The share payout to Dixons' 28,000 staff will cost it £45 million. The allocation will be according to staff grades, with £500's worth being guaranteed for the most junior employees.

Clare told the FT that Dixons group had invested a total of £240,000 in Freeserve. When an all-share takeover deal was agreed by French ISP Wanadoo, Dixons pocketed £120 million and kept a 12.7 per cent stake in the enlarged ISP, now worth £739 million. ®

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