The following Share Incentives Q&A provides comprehensive and up to date legal information covering:
It is a statutory requirement that enterprise management incentives (EMI) options can only granted over shares that:
form part of the ordinary share capital of the relevant company
are fully paid up, and
are not redeemable
However, provided that in all cases the relevant shares meet all of these requirements (and that the company otherwise meets the EMI qualifying criteria) there is nothing to prevent a company from establishing and operating an EMI scheme under which the governing scheme rules allow for EMI options to be granted over different classes of shares in the company.
If a company takes this approach then it will need to have regard to the following:
it is important that the EMI scheme’s governing rules specifically allow for options to be granted over all such classes of share—for example by ensuring that the
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