Vol. 527 No. 3
121 Mr. Stagg asked the Minister for Public Enterprise if negotiation between Bórd Gais and its employees on a productivity agreement have not been completed because the issue of a 5% employee shareholding option has not been agreed by her Department or the Department of Finance; if she will support an ESOP in this area; and if she will make a statement on the matter. [28168/00]
While industrial relations details are a day-to-day matter for State companies, I understand that BGÉ and their unions signed a rationalisation package known as R2000 earlier this year and that this is being implemented. I acknowledge that in that context the unions have a claim for an ESOP which is currently being processed. I have indicated to the unions that an ESOP of up to 5% can be negotiated but it must fit within the parameters which apply to ESOPs in State companies generally. I expect that an independent valuation report, which is a necessary part of the analysis, will be submitted to me shortly.
