The board of brokerage and investment company Barita Investments Limited has just approved a stock ownership plan for employees.

The shares acquired pursuant to the plan will be held in an employee Share Trust, which will be governed by a Trust Deed.

Under the terms of the plan, eligible employees will be given the opportunity to purchase Barita shares at a discount from time to time in accordance with the rules of the plan and the Trust Deed.

Barita has already advised the Jamaica Stock Exchange, where its shares are traded of the Stock Ownership Plan.

A Stock Ownership Plan is a kind of employee benefit plan, similar in some ways to a profit-sharing plan.

In a Stock Ownership Plan, a company sets up a trust fund, into which it contributes new shares of its own stock or cash to buy existing shares, which gives workers ownership interest in the company.

No details was spelt out about the plan and the benefits to be derived by employees

News of the plan comes closely on the heel of its recently closed additional public offer, which was a success, raking in $10.78 billion in equity capital for the company.

The proceeds of the capital raise will be used for deployment in its growing investment pipeline in Jamaica and across the Caribbean.