Financial markets administration services

Tender description

ESB ESOP wishes to appoint: Lot 1: A service provider to maintain and administer the ESOP database / share register; Lot 2: An independent market administrator to manage and operate the annual internal market in ESOP shares in accordance with the detailed rules prescribed in the Trust documentation and the provisions of the Taxes Act. The scope of the work entails the administration and maintenance of the ESOP share register. This work includes, but is not limited to, the accurate and timely maintenance of and updates to the register; coordination and management of participant communications including online access and e-communications; and administration and operation of share transactions and dividend payments. An annual internal — or grey — market has been established for the trading of ESB ESOP shares. Participants are able to, and in certain circumstances must, sell their ESB ESOP shares and, subject to qualifying criteria, may buy additional shares on the internal market. The market is administered by a Market Administrator appointed by the ESB ESOP Trustee. The work of the Market Administrator includes, but is not limited to, the operation of the annual internal market in accordance with the provisions of the Internal Market Rules and the issue and management of all market related communications with participants.