Employee Share Ownership Trust

Also found in: Acronyms.

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 ?

The employee share ownership trust are expected to buy the shares.

Record Business Insider: Carphone boss calls in pounds 10m

Ryanair has a 19.2 per cent stake in Aer Lingus and are courting the Employee Share Ownership Trust for its 12 per cent.

O'Leary's Aer buy bid

Members of the Aer Lingus Employee Share Ownership Trust (ESOT) are reportedly voting on whether to accept a takeover bid by Ryanair.

Aer Lingus Employee Share Ownership Trust ballots members on takeover bid

Chief executive Michael O'Leary claimed that members of the influential Aer Lingus Employee Share Ownership Trust (ESOT) were in line for an average payout of pounds 40,275 each if the takeover was successful.

Aer Lingus says takeover windfall is 'misleading'

The scheme involves setting up an arms-length trust - a qualifying employee share ownership trust or QUEST - to buy, hold and distribute shares for any of its 80,000 UK employees that want to participate.

Boots launches new share scheme

As on 1 January 2019, the total number of holdings of own shares at 1 January 2019 was 1,210,516 and shares transferred in 2017-2018 to an Employee Share Ownership Trust (ESOT) was 188,020.

Concentric reports on retirement of repurchased own shares

In addition to this, 93,000 shares have been transferred to an Employee Share Ownership Trust during 2017.

Concentric's board resolves on sale of own shares

The Aer Lingus Employee Share Ownership Trust (ESOT), which holds just under 10 percent of the airline, plans to exercise its right to buy a further 2.8 percent stake, broadcaster RTE reported on Monday.

Airline News - Europe

He told RTE news that his company's offer was "generous" and stressed the Employee Share Ownership Trust has still not stated if it opposes Ryanair's takeover bid.

RYANFAIR; Airline told: Give passengers better deal

In addition, the total number of shares in issue is 40,031,100, of which, 197,787 own shares are held by the company and 188,020 shares have been transferred to an Employee Share Ownership Trust during 2017-2018.