BSE lifts BTCL suspension

| Friday April 29, 2016 17:26

 

In a cautionary to shareholders on Friday, BTCL announced that it intends to alter the terms of the Employee Share Trust in order to establish an Employee Share Ownership Plan (ESOP).

The objective of the alteration is to permit BTCL employees to directly own BTCL shares and permit them full voting and profit participation rights.

As part of the privatisation process, government reserved 52.5 million shares for citizens workers.

“ The changes will also give employees the ability to buy and sell BTCL shares generally, as distinct to the limited ownership rights in terms of the original Trust.

“The final terms of the ESOP are yet to be determined,” said BTCL.