ESB shares up after staff and pensioners cash in

ESB shares up after staff and pensioners cash in
Any staff who retire or leave ESB through voluntary severance are forced to sell a third of their remaining shares each time a market is held.

A total of 6.69 million shares were sold during the day-long market last month

ESB shares rose 20 per cent to €1.20 when a market allowing staff and pensioners to cash in on their shareholdings was opened for one day.

A total of 6.69 million shares were sold during the day-long market last month, with the vast bulk offloaded by pensioners compelled by rules that force them to sell a third of their holding each time a market is held.

This was just the third time the market was opened for trades....

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