Jones became the sole owner of Pensord following last summers MBO at the Welsh sheetfed magazine specialist.

Through an Inland Revenue-approved Enterprise Management Incentive scheme employees that have been at the firm for at least two years will receive shares in the business.

My intention is that everyone who works in the business will become a shareholder. They are the most important people in terms of making it happen and its the reward they deserve for their loyalty and commitment to the business, Jones explained. There is absolutely no risk for the staff, just gain. I want people to genuinely share in the companys success and theyre in at the start.
The EMI scheme has a theoretical lifespan of 10 years and staff will realise the value of their shareholding if, for example, Pensord is sold or if there was a further MBO at the business.

The news was greeted enthusiastically by Pensords 115 staff after it was announced to them on Friday (16 January). Its great to work for a company that puts people first, said pre-press overseer Chris Haines.

All businesses have to differentiate and have a point of difference, otherwise its just price-driven commodity. Our difference is our people Pensord people, Jones added.

Jones said the 7m turnover company had seen a strong performance from new business in 2003, and that the outlook was positive for both new and existing business in 2004.

Story by Jo Francis