7 News Belize

Ten Percent Offered to BTL Employees
posted (October 15, 2010)
But included in that reserved 50% is ten percent for BTL employees. Under the Ashcroft-allied Sunshine Trust scheme - those employees were said to have been entitled to 23% held in Trust - which sounded good on paper, except the employees could not operate, own or represent the trust. At all times, the trust was and is operated by Ashcroft allied personalities.

Well, now the government is offering the employees 10% with what the PM says is real representation plus a seat on the Board:

PM Dean Barrow
"We are determined that 10% of the shareholding that we acquired from that trust - which we continue to insist is a trust that has not one wit benefitted the employees - but 10% of that amount must be kept in reserve until we can work out and find a way to get at least 10% of that shareholding back into the hands, or for the first time properly into the hands, of the employees."

Net Vasquez, Chairman
"That 10% would enable a representative from the BTL employees to have a seat as a director on the board of management."

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