Have you read the White Paper?
It could have serious implications for ESB and of course, for pensions.
You can read the White Paper on-line and you can download it to study it at your leisure.
See: http://www.dcmnr.gov.ie/Energy/
Have a browse and put your thoughts into a comment on this site – see below for comment button.
It’s important to have your views or indeed your questions so, have a go!
ESOP
Employee Share Ownership Plan for ESB
ESS ESOP Trustee Limited
NOTICE TO PARTiCIPANTS IN THE ESB ESOP
The Government’s White Paper on Energy
This paper was launched by the Minister for Communications, Marine and
Natural Resources on Monday 12th March. The Trustee had made a formal
submission to the Department as had ESB and many other parties and the
Trustee ensured that it was represented at the Launch of the White Paper.
Like most other parties we had no prior notice of the timing or the contents of the
White Paper which will, if implemented in its present form, have very serious
repercussions for ESB and thus for your interest in the Stock of ESB through the
ESOP.
The Board of the Trustee has met to consider the White Paper and its response to it and has appointed financial and other advisers to assist it in this regard. The
—Board of the Trustee is both unanimous and resolute that it will take whatever steps are necessary and appropriate to protect the interests of the participants in the ESOP. It will be liaising with the other ESB stakeholders in this regard.
Participants will receive further communication as the situation develops.
David Beattle
Chairman
ESB ESOP Trustee Limited
14th March, 2007
