[kath12]

as most members of esop are now retired, it would make sense to pay out the remainder of their shares, if we will have no input into the new format of eircom

[horse7]

A little birdy has it there will be some good news in june or july which should tie up everything.

[jd]

Originally Posted by horse7

A little birdy has it there will be some good news in june or july which should tie up everything.

Oh what did you hear? That if the bondholders take control Esop will wind itself up and distribute its assets?

[jd]

Some rumours on FB that the esop may wind up this year and disburse it's assets in June and December, 7k in June and about 8k (??) in December to those with a full allocation

[Ed9]

hi, Where do you guys get your informatiom and sounds good and would make sense to pay and wind up once and for all.

[jd]

Originally Posted by Ed9

hi, Where do you guys get your informatiom and sounds good and would make sense to pay and wind up once and for all.

Some discussion on FB (reg req.)
https://www.facebook.com/pages/ESOP-...s/181476588420
+
various people

[Ed9]

Any new updates?

[tunner]

Anyone hear anything?

[bealtine]

Originally Posted by tunner

Anyone hear anything?

yes under the terms of the examinership the ESOT will be wiped out

[jd]

Originally Posted by bealtine

yes under the terms of the examinership the ESOT will be wiped out

The 35% shareholding the Esot have will be wiped out. My understanding is that ESOT will then distribute its remaining assets ( Vodafone shares, Preference Shares (ring-fenced) and cash on hand) to members - probably about 13k for the members with a max allocation.

[tunner]

Has there been a mention of when that will be issued to us??

[Ed9]

They should just cash in the chips and pay the members in July before something else goes pear shaped?

[whitleydonal]

Originally Posted by kath12

as most members of esop are now retired, it would make sense to pay out the remainder of their shares, if we will have no input into the new format of eircom

The ESOP as shareholders are wiped out when the scheme of arrangements are approved by the high court. When the esop joined with STT 98 million euros worth of preference shares were ring fenced in a trust that could not be touched by any creditors and about 27 million euros worth of vodafone shares. When the high court process is complete the ESOP will be obliged to wind up as the preference shares will be converted to cash and as such must be distributed to participants within twelve months in accordance with the deed of trust. What all that adds up to is a distribution of just over one maximum payout if you have a full allocation. The timing and amounts will be up to the trustees but there is no reason why a maximum payment could not be made immediately.

[whitleydonal]

maybe we could have a virtual esop like the ESB

[Ed9]

Would the 3 Mobile bid make any difference to EOSP shares good or bad?

Rgds