Staff working for Attraction Tickets, which owns the trade brand DoSomethingDifferent.com, will get a share of £1 million after the company transitioned to Employee Ownership.
CEO and founder Oliver Brendon and his fellow shareholders have sold their shares, which the Employee Ownership Trust (EOT) will hold for the benefit of staff.
Under the new structure, Attraction Tickets’ 128 full time employees will get a share of the EOT bonus. Payouts are based on years of service. The average length of service at Attraction Tickets is over six years.
Oliver and his management team will continue to manage the Attraction Tickets business and the EOT board will be chaired by Juliet Thorburn, Global HR Director at manufacturing company Scott Bader.
Oliver said: “Employee ownership is one of the most equitable forms of capitalism, whereby value is shared amongst those who work hard to create it.
“This ownership structure will not lead to a softer commercial approach. In fact, employees and management will be more focussed than ever on business performance because they will benefit from our ongoing success. This is an important milestone for the company I started 23 years ago, and we are all excited about future growth.”
EOTs were set up by the Government in 2014 and offer a way for employees to indirectly own a company, with the trust holding shares in the company for the long-term benefit of the employees.
Attraction Tickets was founded in 2002 as a consumer brand selling theme park tickets. Its trade-facing company is DoSomethingDifferent.com, which sells a wide range of worldwide attraction tickets and experiences.
