Employees of Norwich-based publishing company Archant are to receive more than £900,000 of shares in the business thanks to its share incentive plan.

A total 1,973 members of staff successfully applied for free shares, and 1,567 for a three-for-the-price-of-one offer on paid-for shares.

Those who took up their full entitlement will gain shares worth more than £500 for an outlay of £75.

They must be held in trust by the company for between three and five years to attract full tax advantages.

Archant chairman Richard Jewson said: "The board is keen to encourage share ownership amongst employees and believes the Archant SIP provides an excellent way for them to benefit from the success of Archant by acquiring shares.”

Archant assistant company secretary, Tony Richardson, who co-ordinated the scheme’s implementation, said: “Participants from the current and prior year offers will receive a statement later this month showing the total number of shares held for them by the SIP trustee.

“The SIP is part of Archant’s continuing commitment to promoting share ownership amongst employees - later this week nearly 1,400 people who participated in the Profit Sharing Scheme in 2002 will each receive 49 shares.”