[London] 12 July 2006, Global construction consultant Cyril Sweett has for the second time been acknowledged by the European Centre for Employee Ownership as offering the “Best European All-Employee Share Ownership Plan” (fewer than 1,500 staff category) at the 2006 European Centre for Employee Ownership Forum in Cannes.

The judge’s panel at the awards, held at the Majestic Hotel, highlighted several key areas where Cyril Sweett excelled. These areas included the firm’s policy being open to every employee, the strong communications support provided to employees informing them of the policy and benefits, the targets for percentage of share capital held and finally, the commercial payback in terms of employee commitment and low staff turnover attributed to the policy.

In February 2001, Cyril Sweett Limited was one of the first companies in the UK to launch the new style All Employee Share Ownership Plan (now Share Incentive Plan “SIP”). The SIP offers a full range of 'partnership', 'matching', 'free' and 'dividend' shares to all employees from day one of employment. The tax efficiencies offered by purchasing shares in the SIP is a strong incentive for employee participation.

Mike Kemsley, Finance and Operations Director of Cyril Sweett comments: "This latest award reflects our fundamental belief in encouraging company-wide employee share ownership. Our approach to the SIP is helping build a sustainable business which provides careers, personal development, profits and capital growth opportunities over the longer term. Much of our success is due to the fact that the control of the business is in the hands of the people who know it best and who are most committed to making it succeed."