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Pumpkin Patch... our people

Pumpkin Patch employs approximately 1,700 people (34% in New Zealand, 59% in Australia and 7% in the United Kingdom). Approximately 68% of Pumpkin Patch’s staff work part time. When hiring staff Pumpkin Patch endeavours to identify people who share its vision and who are passionate about kidswear and committed to meeting, and exceeding, customers’ expectations of excellent service.

One of Pumpkin Patch’s core philosophies is integrity – within the Pumpkin Patch team, with suppliers, and towards customers. This integrity is intended to create a platform of trust and commitment, and a foundation for all of Pumpkin Patch’s business relationships.

Pumpkin Patch believes family life and strong family values are integral to the wellbeing of our people and therefore the Company. Family-friendly work policies encourage flexibility, adaptability and balance. People are rewarded for loyalty and long service, and families with young children are supported with in-house crèche facilities or childcare subsidies.

Pumpkin Patch recognises that employee retention and succession planning are vital to a successful organisation. As such the Company has always ensured that key employees have been rewarded with equity interests in the Company, and the Company has established a number of employee share schemes which have allowed employees to share in our success. The share schemes are being restructured prior to the listing of the Company and details of the restructuring are set out on page 84.

In addition to these current schemes, the Directors of Pumpkin Patch agree with the philosophy of rewarding employees with equity interests in the Company and have established two new schemes to allow employees to share in the success of the Company. One of these schemes is the DF7 Scheme, which will give all permanent employees working more than 10 hours a week the opportunity to acquire Shares. The details of that Scheme are set out on page 85.

The other is the Pumpkin Patch 2004 Share Option Scheme, under which the Option Offer is made. This Scheme is intended to give Eligible Senior Managers an additional incentive to strive to create shareholder value by aligning their interests with those of Pumpkin Patch shareholders. Pumpkin Patch intends to establish similar schemes in subsequent years.

This Prospectus is issued in respect of the 2004 Share Option Scheme and further details of the Scheme can be found on pages 93 and 98.This Prospectus is not issued in respect of either the DF7 Scheme or the schemes to be established in subsequent years although Pumpkin Patch anticipates that these schemes will be on similar terms.


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