Sue El-Hachmi and Natalie Smith Associates at European law firm Osborne Clarke consider the practical aspects of a scheme of arrangement for employee share plans
An increasing number of corporate transactions take the form of schemes of arrangement under Companies Act 1985 s 425. This will be replaced by Part 26 of the Companies Act 2006 with effect from 6 April 2008. In the context of a takeover of a quoted company although the end result may be similar for employee share scheme participants as under a general takeover offer the practicalities will differ. The purpose of this article is to set out:
● the main events in a scheme of arrangement;
● the tax implications for share scheme participants; and
If you are not a subscriber, subscribe now to read this content.
Sue El-Hachmi and Natalie Smith Associates at European law firm Osborne Clarke consider the practical aspects of a scheme of arrangement for employee share plans
An increasing number of corporate transactions take the form of schemes of arrangement under Companies Act 1985 s 425. This will be replaced by Part 26 of the Companies Act 2006 with effect from 6 April 2008. In the context of a takeover of a quoted company although the end result may be similar for employee share scheme participants as under a general takeover offer the practicalities will differ. The purpose of this article is to set out:
● the main events in a scheme of arrangement;
● the tax implications for share scheme participants; and
If you are not a subscriber, subscribe now to read this content.
.tmb-editorspic.jpg?sfvrsn=df04ab27_1)
