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The Times & The Sunday Times
The Times & The Sunday Times
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ESB shareholders cash in

Vincent Ryan
The Sunday Times
ESB will allow its staff to trade their shares in the electricity utility (James Flynn)
ESB will allow its staff to trade their shares in the electricity utility (James Flynn)
Vincent Ryan
The Sunday Times

NEARLY 11,000 current and former ESB staff will be allowed to trade their shares in the semi-state for only the third time on September 24.

ESB is to hold an internal market, letting shareholders in the Employees Share Ownership Plan (ESOP) cash in their shares. ESOP members own 5% of the company, bought in 2011 for almost €76m. Workers have struggled to find buyers as the stock cannot be traded publicly.

To solve this, the ESB has agreed to buy back €25m-worth of workers’ shares.

A spokeswoman for the Department of Communications, Energy and Natural Resources said that talks on resolving the liquidity problem would continue following the market day.