Eircom ESOP: when's our next windfall?

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on two occasions the esop have told me that if they made a triple payment of 38 000 euro they might as well close the door behind them as there would be nothing left . well i would mind them closing the door if i could get 38 000 in one go
 
STT offer for Eircom Holdings values Esop stake in Eircom at around 25m euros.This contrasts with 165m valuation put on Eircom stake in Esop circulation sent out last year.

Coupled with the tanking in vodafone shares this year-Esop value per member full allocation would currently be between 10-15k euro assuming payout is tax free.
 
are you saying 10 k to 15 k is about the total left in the esop per full allocation member . thats disopointing i thought there was about 40,000 left per member
 
Yes-from memory over half of Esops assets last year were 35% stake in Eircom which Esop valued at 165m euro.
Based on STT offer for Eircom Holdings,this stake now worth only 20m.

They also had substanial vodafone holding which has taken a hammering due to sterling devaluatin against euro.

In my opinion,the best option for Esop members is to align with STT and increase value of Eircom over next 3 years.

Thats' only my opinion but biggest frustration for me is lack of information from Esop website.
 
is it not now law that companies must give full information to shareholders when asked (newspapers last week)
 
Looks like its' a done deal from article.

Its' a big positive that STT is a major telecommunications player rather than previous owners who basically borrowed Eircom too hilt to make returns.

Interestingly,Stt have mooted a shareholder float of Eircom in 2011 which should provide Esop with exit strategy to return members funds by 2012 deadline.

Article also mentions that Esop has retained its' tax free status which is another big positive
 
anyone heard anything ? is the company sold ? what does it mean for when it is sold ? does it mean another payout this year ?
 
paul o b said:
anyone heard anything ? is the company sold ? what does it mean for when it is sold ? does it mean another payout this year ?
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i dont think it will happen for at least a year this is what happened last time it was sold can anybody verify if company has been sold as the esop news is useless
 
I am an ex eircom employee and i am very frustrated at the lack of info from esop. Having contacted them on a number of occasions i feel I am being treated like a child. If we were share holders in any other organisation we we have a lot more say in how its run. I think setiing up a website is a good idea and i know that they is intrest among my old collegues still working in eircom
 
Any rumours surrounding allocations/payouts should, of course, be taken with a pinch of salt....

....but I just heard €10k this year, €10k next year and then finito!

Dr1nKy
 
dr1nky said:
Any rumours surrounding allocations/payouts should, of course, be taken with a pinch of salt....

....but I just heard €10k this year, €10k next year and then finito!

Dr1nKy
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I presume thats the next payment just before Christmas?
 
I heard from my good and always reliable source (who in fact has never been wrong) that we are getting 10k just before Christmas (for people with full allocations) and that there will be 3 payouts next year - but heard nothing about ESOP being wound up next year, but I will consult my source on that.
 
assuming you are right about the 10 k , the fact that you have info about it , and yet if i ring esop they say their usual that they know nothing about it , shows they are always lying . when will they accept we have a right to know its our money . its bloody anoying when you read it in the papers first
 
paul o b said:
assuming you are right about the 10 k , the fact that you have info about it , and yet if i ring esop they say their usual that they know nothing about it , shows they are always lying . when will they accept we have a right to know its our money . its bloody anoying when you read it in the papers first
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I can in fact tell you that my good source is in ESOP and I've been told that its their internal policy is to 'stay silent' and 'say nothing when asked', and believe me, I have asked on many occasions why, but was given a shrug and mumble of "dunno" in response, but my source only slips it quietly to me and few other selected peeps only when they def hear of an upcoming allocation... and from the horses mouth, "letters will be posted late November", but my personal advice would be don't go book that late winter holiday until you've the letter in your hand.

PS: And yes, when they tell you on the phone that they don't know anything, THEY ARE LYING!
 
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