Board minutes—approving the satisfaction of CSOP option exercises
Board minutes—approving the satisfaction of CSOP option exercises

The following Share Incentives precedent provides comprehensive and up to date legal information covering:

  • Board minutes—approving the satisfaction of CSOP option exercises

[insert name of company adopting the CSOP] (Company)—[insert Company number]

Minutes of a meeting of the[ remuneration committee of the] board of directors of the Company held at [insert place of meeting] on [insert date of meeting] at [insert time of meeting].

Present[insert name of director to be Chair] (the Chair)
[insert names of directors present]
In attendance[insert names of those in attendance]
Apologies[insert names of directors who are unable to attend meeting]
    1. 1

      Notice and quorum

      [insert name of Chair] was appointed Chair of the meeting. It was reported that proper notice of the meeting had been given in accordance with the Company's articles of association (Articles) and that a quorum was present. Accordingly, the Chair declared the meeting open.

    1. 2

      Purpose of meeting

      The Chair reported that the purpose of the meeting was to consider and, if thought fit, approve the issue and allotment of a total of [insert number and class of shares that are being allotted to satisfy option exercises] shares of [insert nominal value of shares] in the capital of the Company (Shares) to certain employees of the Company (Option Holders) in order to satisfy the exercise of options (Options) that had been granted to them under the [insert name of CSOP] (CSOP).

    1. 3

      Directors’ duties and declarations of interest

      1. 3.1

        The directors were reminded that they needed to

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