Netcore Solutions has announced the completion of an Employee Stock Ownership Plan (ESOP) buyback for its past and existing employees.
Employees were given the opportunity to encash a major portion of their stock options. This ESOP buyback exercise has been a wealth creation opportunity for Netcore employees, boosting personal liquidity and employee morale. The ESOP buyback saw a return of up to 250 times for employees, depending on the price at which they were given the options.
In a parallel exercise, Netcore’s holding company also completed a buyback scheme of shares held by current and ex-employees.
This buyback scheme reinforces Netcore’s stance on employees being equal stakeholders in the company’s evolving growth story.
“Being profitable for the past 10 years, Netcore is 25% owned by its employees,” said Kalpit Jain, Group CEO of Netcore Solutions in a statement. “We aim to continue to grow our email and marketing automation business globally by 30-40% in the years to come, thus continuing to deliver high returns to our employees.”
Published in Economic Times on January 16 | Source: https://bit.ly/2MOqXWd
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