| 1 | Demergers and employee share schemes: an overview This practice note explains the effect of a demerger on employee share schemes and sets out the share scheme issues which need to be considered when planning a demerger. It also suggests ways of dealing with employee options and awards to avoid them losing value as a result of the demerger. For a checklist of steps to be taken when advising a company on the share scheme issues of a demerger, see Demergers and employee share schemes: a checklist. | Practice note: overview | Maintained |
| 2 | Demergers: tax overview This note gives an overview of the reasons for, and the different types and tax implications of, demergers. | Practice note: overview | Maintained |
| 3 | Share scheme issues for listed companies: a quick guide This is a quick guide to the main share scheme issues for companies listed on the main market of the London Stock Exchange. It is part of a series of quick guides to share schemes and is also one of a series of quick guides on many other subjects, see Quick guides. | Practice note: overview | Maintained |
| 4 | Share scheme issues for private companies: a quick guide A quick guide to the key issues for private companies when offering share incentives to employees.This is one of a series of quick guides, see Quick guides. | Practice note: overview | Maintained |
| 5 | Cash scheme of arrangement takeovers: potential share plan ... Takeovers are often carried out through a scheme of arrangement under Part 26 Companies Act 2006. The wording of some share plans can cause problems when the target company's shareholders are to receive cash. This brief note explains when the problem may arise, how to deal with it and how to draft share plans to avoid this issue in the future. | Practice notes | Maintained |
| 6 | Corporation tax relief for share schemes: loss of relief on ... Companies can generally obtain relief from corporation tax when employees acquire shares under employee share plans. However, this relief may be lost on a takeover, and this is a particular issue where a company is taken over by an unlisted company, or a company which is listed on an exchange which is not a recognised stock exchange. | Practice notes | Maintained |
| 7 | Directors' interests in shares: disclosure requirements This note details the requirements for disclosure of share dealings by directors of listed companies under the Disclosure and Transparency Rules and the Model Code of the Listing Rules. | Practice notes | Maintained |
| 8 | EMI option rollover: practical issues This note explains the practical issues involved in implementing an EMI option rollover. | Practice notes | Maintained |
| 9 | Employee benefit trusts: concert party clearance from the ... The proposed acquisition of shares by an employee benefit trust raises many questions. This note focusses on the potential need to consult the Takeover Panel to determine whether the trustees are acting in concert for the purposes of the Takeover Code. | Practice notes | Maintained |
| 10 | Internal rate of return (IRR): an introduction This note introduces the concept, use and calculation of internal rate of return as a measure of performance in private equity investments. | Practice notes | Maintained |
| 11 | Joint ventures: employee share schemes A look at the issues that arise in joint ventures when share schemes are used as part of employees' remuneration packages. Finance Act 2011 contains anti-avoidance legislation, enacted as Part 7A of the Income Tax (Earnings and Pensions) Act 2003, which taxes disguised remuneration provided to employees through third parties such as employee benefit trusts. The legislation contains certain exemptions which may apply to normal employee share schemes arrangements operated through EBTs. However, the provisions are complicated and restrictive. Companies and their advisers should consider the impact of Part 7A when adopting, or continuing to operate, an employee share plan supported by an EBT. For more information, see Practice note, Disguised remuneration: Part 7A of the Income Tax (Earnings and Pensions) Act 2003. | Practice notes | Maintained |
| 12 | Rights issues, open offers and placings: employee share ... This note considers the impact of a rights issue, open offer or placing on the share option schemes, share incentive plans and other employee share schemes operated by a listed company. | Practice notes | Maintained |
| 13 | Share incentives in quoted company takeovers by schemes of ... A consideration of the legal and tax issues that may affect employee share schemes on a takeover of a company (whose shares are listed or traded on an investment exchange) using a scheme of arrangement under Part 26 of the Companies Act 2006 (rather than by way of an offer). | Practice notes | Maintained |
| 14 | Share incentives in quoted company takeovers made by way ... A consideration of the legal and tax issues that may affect employee share schemes on the takeover of a listed company by way of an offer (rather than a scheme of arrangement). | Practice notes | Maintained |
| 15 | Share option schemes: intra-group reorganisations This note considers some of the issues relating to share option schemes that arise on group reorganisations. | Practice notes | Maintained |
| 16 | Takeover Code: how buyers should treat employee share ... This short note explains the Takeover Code's requirements in respect of the target company's employee share plans. | Practice notes | Maintained |
| 17 | The effect of a private company sale on existing employee ... This note explains how employees holding shares, interests in shares, share options and share awards are dealt with when the shares of a private company are sold under a sale and purchase agreement. It also considers the practical issues companies may need to address in relation to employee share options and awards on a share sale. | Practice notes | Maintained |
| 18 | The effect of a public to private transaction on existing ... This note considers the effect of a public to private transaction on existing share options and awards and suggests ways of giving employees in the unlisted company incentives for the future. | Practice notes | Maintained |