Eircom employee scheme payout due

The 14,147 members of the Eircom employee share ownership plan (ESOP) will be issued with a cheque for up to €8,000 today.

ESOP members who received the maximum allocation of shares will have received €95,000 tax-free over the life of the scheme, which is now being wound up.

The payments made to the 14,147 members are as a result of the ESOP distributing the bulk of its Emerald Communications (Cayman) preference shares. This will mean €85m will be distributed to participants.