Q&As

Can the same enterprise management incentives scheme rules allow for the grant of options over different classes of shares?

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Published on LexisPSL on 26/01/2021

The following Share Incentives Q&A provides comprehensive and up to date legal information covering:

  • Can the same enterprise management incentives scheme rules allow for the grant of options over different classes of shares?

It is a statutory requirement that enterprise management incentives (EMI) options can only granted over shares that:

  1. form part of the ordinary share capital of the relevant company

  2. are fully paid up, and

  3. 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

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