Employee Share Ownership Trust

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Employee Share Ownership Trust

An employee benefit in which employees are sold shares in the publicly-traded company for which they work through a trust. ESOTs are designed to help give employees equity in the company to boost morale and thereby improve productivity. It also provides the company with a source of revenue. Buying shares through an ESOT gives employees various tax benefits, and may give employees a greater say in the election of the board of directors. It is similar to, but different from, an employee stock ownership plan.
References in periodicals archive ?
Prior to the acquisition by a person or group of beneficial ownership of 25% or more of the Company's common stock (exclusive of ESOT shares), the Rights are redeemable for $.
But it has not been endorsed by ESOT - the Eircom Employees' Share Ownership Trust - whose 15 per cent stake will be vital in the final analysis, as the victor has to secure an 80 per cent holding.
Stefan VA-tko, president of the Local Organising Committee of ESOT and head of Transplantcentrum IKEM.
If you would like to receive press releases and other information on the ESOT by e-mail please send an e-mail to esot@prschwegler.
These shares were acquired to satisfy needs arising under the ESOT,
When the company went public in July 2000 these shares were reclassified to shareholders' equity since the company no longer has the obligation to redeem ESOT shares at the option of the ESOT owners.
ESOT, which holds a 15 per cent stake in the targeted company, said it was unable to provide the names and addresses of its membership to Mr O'Brien for him to make a direct mail approach on an invidual basis.
The most attractive thing for ESOT is that they have to invest less for the same amount of equity under our offer - and more seats on the board.
HBI) presented the findings from two transplant studies conducted in collaboration with Novartis Pharma AG at the 12th ESOT (European Society for Organ Transplantation) Congress in Geneva, Switzerland, in October 2005.
6 million related to payments to acquire shares by the ESOT and $46.
Currently, the Tony O'Reilly-led Valentia consortium is heading the field, having secured the crucial support of ESOT, the employees' trust - and one of the largest Eircom shareholders, with 14.
2) Excludes shares purchased by the ESOT and presented by the Company as treasury stock.