Eircom ESOP: when's our next windfall?

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taking everything you say on board , i think it is a bad situation the fact that this is OUR money and they wont tell us . as i said before it is our money that is keeping them in a job . nobody else would stand for it . they had the chance to make a triple payment before things got bad and they did not do so . now it would take years to see our investment reach the same sort of value it had[ say 2 years ] ago
 
I heard from a usually unreliable source that there definitely might be a payout , this year - next year or maybe the one after . . . . he was 100% right in the past so fingers crossed
 
KPI said:
I heard from a usually unreliable source that there definitely might be a payout , this year - next year or maybe the one after . . . . he was 100% right in the past so fingers crossed
Click to expand...

At approximately 7pm sharp.
 
Good to know yous all enjoy sarcasm . . . . . . . Wer's the next whine about share's coming from . . . . .especially from the X employees?
 
anyone know whats happening ? every week in the papers they say the sale is to be concluded early next week , but they have been saying this for weeks now , and still no word . last i heard was that rex comb is holding things up because of some bonus payment he claims he is entitled to , but until we know whats happening esop wont make any statements about any further payments to us
 
From what was reported here in Australia,Reg Comb action has been dismissed out of course with no admission of liability on either side.

Eircom Holdings share price has risen to just below proposed takeover offer from STT so still think deal is on.

Don't think that this has major bearings on Esop delaying payments-simple fact is most of the money has already been paid out,only change to that if Eircom can get some market value in the future and Vodafone shares rise materially higher from current levels.
 
its hard to te optimistoc about any 10k payment around nov that some posters on here have heard . i dont even know if there is that much left in the kitty
 
it appears that comregs demands for eircom to lower the price it charges olo,s by 90% is having a major bearing on the proposed sale of the company , and as a direct result the sale might now fall through
 
Update from Esop website:

[FONT=Verdana, Arial, Helvetica, sans-serif]In our communication of 19th June, the eircom ESOP Trustee advised that it had agreed to a request from Singapore Technologies Telemedia Communications Limited (‘STTC’) to support their bid to acquire Eircom Holdings Limited (‘ERC’) on an exclusive basis for a period of time.

[/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif]The ESOP board is pleased to report that ERC and STTC have now reached agreement on the terms of an Offer ( the ‘STTC Offer’) to acquire the entire issued capital of ERC, by means of a Scheme of Arrangement ( ‘the Scheme’). STTC have established a bid company called Emerald Communications (Cayman) SPC to make the offer.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]The Directors of ERC are unanimously recommending that their shareholders vote in favour of the Scheme in the absence of a superior proposal and subject to an Independent Expert opinion that the transaction is in the best interests of shareholders.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]The ESOP board, in conjunction with its advisers, has engaged in discussions with the STTC and ERC in relation to how the STTC Offer will proceed and on terms that will govern the shareholder relationship between STTC and ESOT into the future.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]The board is currently preparing ESOP Extra 21, which will contain details of the STTC Offer and the ESOP Proposal and this will be sent in due course to beneficiaries after ERC have issued the Scheme Booklet to their shareholders (see below).[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]As the STTC Offer is being made by way of a Scheme of Arrangement, the timetable for completion is subject to Australian regulatory and legal requirements. ERC have indicated that a Scheme Booklet containing full details of the Offer and the return of ERC’s Surplus Cash pursuant to a return of capital, including an Independent Expert’s report is expected to be sent to ERC shareholders in November 2009. ERC Shareholders will be asked to vote on the Scheme at a shareholders’ meeting expected to be held in Sydney in December 2009. Actual dates will be announced with the dispatch of the Scheme Booklet.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]In order for the STTC Offer to be successful it is a requirement that the ESOP beneficiaries approve of the arrangements in a ballot. Details of the ESOP ballot will be contained in ESOP EXTRA 21.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]It is envisaged, subject to all the relevant approvals being obtained, that the STTC Offer will complete early in 2010.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]On behalf of the ESOP board, I look forward to having the opportunity to welcome STT as a long term partner that is well placed particularly in the light of its industry experience to make a valuable contribution as the company moves forward.[/FONT]
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[FONT=Verdana, Arial, Helvetica, sans-serif]The ESOP will not be making any further comment at this time.[/FONT]
 
So, how does this translate with regard to a possible payout in December this year? Any thoughts anyone?
 
Is this takeover good news or bad news for us, and whats our chances of a payout before christmas
 
Noticed this here

"The deal also includes a clause that could involve the Eircom Share Ownership Trust (ESOT), made up of thousands of current and former shareholders in the firm, increasing its stake in ECC to 50pc"
 
i think now is the time to demand commitments in writting from esop for our payments,in the event of this not happening ,we should vote against the sale.any thoughts.
 
While negotations are ongoing, we do not tend to get any share money. This happened before.
 
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