STAFF at Pontllanfraith printer Pensord are enjoying a prosperous New Year after receiving a stake in the company from owner Tony Jones.

Mr Jones is effectively giving away 25 per cent of the company to create a staff stakeholder scheme.

The entrepreneur led a management buy-out at Pensord last summer.

He said: "If you speak to anyone at Pensord now, you're likely to be speaking to a stakeholder.

"This was something I've been thinking about for some time, and as soon as I took the reins last summer, I was determined to give everyone an interest in the company's future.

"It's partly a reward for loyalty and commitment, and partly to encourage a sense of unity and a focus on customer service."

KPMG has been commissioned to set up the share option scheme for all staff of Pensord.

Simon Jones, a KPMG partner in Cardiff, said: "Pensord has ambitious plans and recognises that all employees have a significant impact on its achievement of these plans.

"The scheme allows employees to share directly in any increase in the value of the company."

Press hall overseer Colin Watson said: "I've been with Pensord for over 26 years and I'm delighted to now have a share in the company."