Company is setting up an EMI scheme but want the scheme shares to be non-voting. Presumably these will be restricted securities and an election under s431 will have to be made. However on a future sale of the company the non-voting shares will have a lower value than the voting shares and the employee could potentially lose out. Is it therefore possible for the non-voting shares to be converted to voting shares in the event of a sale of the shares by the employee? Will there be any income tax charges?
ADS
31st May 2006
0
EMI - non-voting shares
EMI - non-voting shares