Steel & Tube to gift shares to staff

Steel & Tube Holdings Limited (NZX: STU) advises that it intends to issue 70 free shares to each of its team members, as part of its 70th anniversary celebrations. The formal issue of the shares is planned for early in the new year and will be based on the number of full time and part time employees working for the company (estimated to be approximately 850 people). CEO of Steel & Tube, Mark Malpass, said: "This recognises the vital contribution that our people make to the success and longevity of the company. We already have a highly engaged workforce and this is another way we can engage with and reward our team members for their efforts. We look forward to having them as owners in our business." Steel & Tube is working with Sharesies to facilitate the issue of shares in the new year. ENDS For media or investor enquiries, please contact: Jackie Ellis Tel: +64 27 246 2505 or email: jackie@ellisandco.co.nz For further information please contact: Mark Malpass Steel & Tube CEO Tel: +64 27 777 0327 Email: mark.malpass@steelandtube.co.nz or Richard Smyth Steel & Tube CFO Tel: +64 21 646 822 Email: richard.smyth@steelandtube.co.nz End CA:00423145 For:STU Type:GENERAL Time:2023-12-08 08:52:05