Q&As

Does an option to acquire more than 25% of the issued share capital of a company make the option holder a person with significant control prior to exercise?

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Published on LexisPSL on 12/10/2018

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

  • Does an option to acquire more than 25% of the issued share capital of a company make the option holder a person with significant control prior to exercise?

Does an option to acquire more than 25% of the issued share capital of a company make the option holder a person with significant control prior to exercise?

Whether or not an option-holder will fall within the ambit of Schedule 1A Part 1 to the Companies Act 2006 (CA 2006) (which sets out the five conditions relating to the people with significant control (PSC) regime) is a question of fact. In most circumstances the holders of options or warrants will not generally be caught by the share ownership PSC condition (the first condition) until such time as they exercise their options or warrants, although technically other conditions could be triggered if they are treated

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