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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » PLC Employee Shares Returned to PLC

PLC Employee Shares Returned to PLC

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1PLC Employee Shares Returned to PLC  Empty PLC Employee Shares Returned to PLC Wed Jan 04, 2012 12:16 pm

K.Haputantri

K.Haputantri
Co-Admin
PLC has reported that the employee shares which were given free of charge were terurned back to PLC with SEC approval. No apparanet reason given for the surprise move. Any one who knows the background pl let us know.

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@K.Haputantri wrote:PLC has reported that the employee shares which were given free of charge were terurned back to PLC with SEC approval. No apparanet reason given for the surprise move. Any one who knows the background pl let us know.

Pressure of Peoples Bank's trade union, I guess.

kaka


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@K.Haputantri wrote:PLC has reported that the employee shares which were given free of charge were terurned back to PLC with SEC approval. No apparanet reason given for the surprise move. Any one who knows the background pl let us know.

Then, is this was a promotion for the IPO they did? confused

LongTerm


Senior Equity Analytic
Senior Equity Analytic
I have a friend who has confirmed the fact it was due to the pressure from the Trade Unions of People's Bank, who felt that the employees of their subsidiary should not profit at the expense of their Parent Company.

A bit sad really, considering these employees has built up a fantastic operation in a very short period of time to become the market leader in a highly dompetitive business segment and then the Trade union's of the Parent (who has not being very productive at all) goes and screws it up for them.

I heard there was an arrangement made before the IPO to do this or else the Trade Union was talking to the highest persons in the country to pull the issue.

Any way, it is better for the shareholders of PLCL since there will not be any shares coming to the market in August 2012 which were issued at zero cost...

K.Haputantri

K.Haputantri
Co-Admin
I am concerned about this move because it is a very strange for the employees to refuse a windfall like this even with the socalled preasures from unions. The unions may be getting ready for a big show of strength this time. I can remember they were telling that the allocation of shares was not properly done and they were ready for some TU action when IPO was launched. Many stayed away from the IPO due to this issue. We need to watch the situ.

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@LongTerm wrote:I have a friend who has confirmed the fact it was due to the pressure from the Trade Unions of People's Bank, who felt that the employees of their subsidiary should not profit at the expense of their Parent Company.

A bit sad really, considering these employees has built up a fantastic operation in a very short period of time to become the market leader in a highly dompetitive business segment and then the Trade union's of the Parent (who has not being very productive at all) goes and screws it up for them.

I heard there was an arrangement made before the IPO to do this or else the Trade Union was talking to the highest persons in the country to pull the issue.

Any way, it is better for the shareholders of PLCL since there will not be any shares coming to the market in August 2012 which were issued at zero cost...

It all comes down to the highest person of country, isn't it? sad...

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
What about the motivation level of the PLC employees now.

8PLC Employee Shares Returned to PLC  Empty Re: PLC Employee Shares Returned to PLC Thu Jan 05, 2012 11:16 am

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
@LongTerm wrote:I have a friend who has confirmed the fact it was due to the pressure from the Trade Unions of People's Bank, who felt that the employees of their subsidiary should not profit at the expense of their Parent Company.

A bit sad really, considering these employees has built up a fantastic operation in a very short period of time to become the market leader in a highly dompetitive business segment and then the Trade union's of the Parent (who has not being very productive at all) goes and screws it up for them.

I heard there was an arrangement made before the IPO to do this or else the Trade Union was talking to the highest persons in the country to pull the issue.

Any way, it is better for the shareholders of PLCL since there will not be any shares coming to the market in August 2012 which were issued at zero cost...

yes.. good for the share holders ..but what about the employers.. what about the employers who slod or is it was time frame to hold the sahres for the employers...

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