Gannons Solicitors 020 7438 1060
London solicitors specialising in the law relating to employment, partnerships/LLPs and company commercial
Working with a newly established start up we designed and implemented an enterprise management incentive (EMI) share option plan to be run in conjunction with a off-shore employee benefit trust. The work involved design of the EMI options, implementation of the EMI share option plan, employee presentations and the tax structure for an off-shore employee benefit trust.
We advised our client, a fast growing marketing company, on an incentive scheme for its directors. We advised on the different types of schemes available and the tax consequences of each. Not all directors were eligible for all schemes as some were already shareholders or non-executive directors. We therefore advised on alternative schemes and structures available to ensure the best possible position for all.
Working with a client preparing to sell in 3-5 years we designed and implemented a flowering share arrangement whereby capital gains tax (CGT) savings are achieved and limits on the amount of equity provided are managed so as to tie in with value added. Gannons provided CGT tax planning advice and company law advice on the design of the articles of association and shareholders agreement.
We advised a listed company employer on re-claiming shares awarded following a sudden collapse in share value. Advice was also provided on the design of new awards incorporating built in claw back provisions.
Our client was a substantial shareholder in a company and decided he wanted to retire from the business. He was unable to find a purchaser for his shares as the existing shareholders did not have sufficient funds and he could not find an interested third party purchaser. It was decided that the company would buyback the shares from its distributable reserves. We advised on the procedural requirements and tax implications for our client.