“To avoid any misunderstandings, all eligible persons can exercise their rights to buy stock in any of Electrica’s units, not only in the units they used to work for, be a member of the board in or retired from,” the document said.
According to the document, individuals who worked for Electrica for at least one year without interruptions are entitled to buy stock in the company’s units.
In 2004 to 2007, Electrica sold five of its eight units to German utility E.ON, Italy’s Enel and Czech CEZ. For each of the five units, Electrica has agreed to sell stakes of up to 10% to the employees.
The company estimates revenues of at least EUR200 million from the sale of minority stakes in the local units of Enel and E.ON to the employees associations.