EMI Share Options & Employee Share Options Solicitors
Most independent trading companies with gross assets below £30m and fewer than 250 full-time employees can grant EMI share options to their employees. All employees who are employed for at least 25 hours per week are eligible and those employed on fewer hours can also qualify if they spend at least three-quarters of their working time in the business. Usually EMI share options are reserved for key employees who can help drive growth.
EMI share options give recipient employees the right to acquire shares in the Company at some time in the future. The Company has a great deal of flexibility in setting the terms of an EMI share option: shares can be acquired very soon after grant or after a designated period of time, or linked to the happening of a particular event such as a sale of the Company. The Company can make the options subject to performance conditions which can ensure that shares are only received if certain targets are achieved, and provisions can be included to deal with what happens if an employee option holder leaves the Company.
A particularly useful feature of EMI share options is that they can be granted over any class of ordinary shares. This means that an entirely new class of shares, separate to the existing shares in issue, can be created specifically for employee option holders. The new class of shares could have different economic returns and perhaps little or no voting rights.
Contact Us for Help
If you would like to discuss setting up an EMI share option arrangement or you would like us to review or update your existing share option scheme, please contact our offices by calling 0333 323 5292, or alternatively, fill in our enquiry form and we will get back to you as soon as possible.
Lupton Fawcett are a leading personal and commercial law firm in Yorkshire with well-established offices of highly experienced solicitors in Leeds, Sheffield and York.
We have spent over one hundred years using our legal skills to help you through difficult, complicated or emotional times. Within every area of law, we put your interests first.
We provide a personalised service, with sector specialists and extensive resources to ensure we are giving you the best solutions to your problems.
Our Corporate Tax & Finance Solicitors act regularly for clients across the United Kingdom including Bradford, Birmingham, Hull, Leeds, Liverpool, London, Manchester, Sheffield, York and Nottingham. We also provide specialist niche legal and commercial services for Irish companies wishing to do business in the UK and legal advice for UK companies trading in the Republic of Ireland.
As recognised Employee Share Option Solicitors we can support your needs wherever you live in England, Wales, Northern Ireland and Ireland.
Call today or complete the enquiry form and we will get back in touch with you quickly. We will always respond promptly, and we will be happy to help.