Marks & Spencer shareholders donate £75,000
Howard Lake | 9 July 2002 | News
Marks & Spencer’s Return of Capital to Shareholders programme has generated £75,000 in donations to three charities.
The amount raised will go to Help the Hospices, The Prince’s Trust and The National Literacy Trust, each charity receiving £25,000. Marks & Spencer has contributed a proportion of its own community budget to complement the net proceeds of £45,000 given by shareholders.
Following a capital reorganisation in March 2002, Marks & Spencer were aware that many shareholders held a very small number of shares and that dealing costs would make disposal uneconomic. The company therefore encouraged small shareholders to donate all the proceeds from the sale of their new ordinary shares to charity via ShareGift, the charity share donation scheme.
Advertisement
The charities were chosen because they fitted under three main policy areas of Health, Safety and Education and Learning.
Related posts
CAF challenges charities to avoid reliance on government funding
More funding for community-based media in South Yorkshire
First Institute of Fundraising Partners in Fundraising Awards winners announced
Brain Tumour Research Christmas campaign reached over 120 million in December
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.