Employee Share Ownership Plan Trust (“ESOT or ESOP”)

In conjunction with discretionary or all-employee schemes.

The ESOT or ESOP is a discretionary trust that has the power to borrow for purposes of investing in the company’s shares and which uses one or more bona fide employee share schemes, whether tax-approved or not, to distribute to employees the shares that it has purchased. This arrangement offers considerable cash-efficient and tax-efficient advantages to the structuring of a company’s employee share scheme