Posted at 11:01 a.m., Monday, June 18, 2007
Robert's Hawaii workers buy stake in firm via ESOP
Advertiser Staff
Robert's Hawaii Inc., the state's largest tour and transportation operator, said its transfered 43.5 percent ownership to workers through an Employee Stock Ownership Plan (ESOP).Robert Iwamoto Jr., Robert's chief executive officer, and partners transfered the shares to the company's 1,405 workers.
"After considering a wide range of alternatives, I have come to the conclusion that ESOP is a perfect way to contribute to RHI's development without limiting its future capitalization opportunities. I am excited to offer this great benefit to our employees," Iwamoto said in a news release.
The ESOP "will allow our employees to share in the company's continued growth."
The plan was designed by Corporate Solutions Gropu LLC, a New York-based firm.
