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.
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A particularly pleasing aspect of the plan is that it includes an employee share ownership trust as well as a community trust, so as to ensure all stakeholders benefit from the continued operation of Mimosa.
2 per cent stake in Aer Lingus and are courting the Employee Share Ownership Trust for its 12 per cent.
Members of the Aer Lingus Employee Share Ownership Trust (ESOT) are reportedly voting on whether to accept a takeover bid by Ryanair.
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.
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.
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.
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.
FORMER trade union leader Con Scanlon is to become general manager of Eircom Employee Share Ownership Trust from mid-July.
As well as this year's losses there was also a EUR28million payment to the Employee Share Ownership Trust (ESOT) to buy shares for Eircell employ-ees who left the group because of the demerger.
It raised new doubts about a reported decision by the Eircom's Employee Share Ownership Trust to accept the O'Reilly offer.
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