Scenario A A group with a £200m pension deficit but achieving £6m EBITDA – what should a new management team do when they realise this is the situation? The obvious answer was to put the company into an insolvency procedure. However, where, for example, the company’s business is heavily contracts based, the company would have […]
Scenario B The bank had lost confidence in a management team. The company had £40m of debt and capital assets that were reducing in value. The bank gave the sole shareholder of the company a clear choice: sell the company or replace the management team (and if in the latter case it was clear that […]
We understand that the landscape is incredibly difficult for businesses at the moment, and that things are changing day by day, sometimes hour by hour. Having worked with a number of businesses who have experienced very difficult situations over the years, we thought it may be helpful to share some case studies to demonstrate that […]
What is an EMI Option Scheme? Away from the legal jargon, an option is just an agreement that gives someone a right to acquire shares at a point in the future. An Enterprise Management Incentive (EMI) option is a tax efficient option, structured in a particular way to meet specific criteria set by HM Revenue […]
We are seeing numerous transactions in the TMT sector, many of which are a consolidation of the market. Additionally, a number of these transactions are bolt-ons with businesses adding additional expertise.
Employee share schemes are increasingly common and increasingly seen as a cost-effective incentive for rapidly growing businesses in a range of sectors. We have recently seen some of the early schemes we helped to implement now come to fruition, which has been hugely satisfying. So why have employee share schemes become so common? We believe […]
If the festive break has hardened your resolve to sell your business, these handy tips on what to do in advance of a sale may make the whole process easier – and secure you a better price.
Benjamin Franklin said “by failing to prepare, you are preparing to fail” and that is never more than true in transactional work. As preparation is key to a smooth and ultimately successful acquisition or disposal, each quarter we will bring you some of our most important rules to follow leading up to that all important […]
You will be aware from our EMI Option Scheme update found here that there was a lapse in the State Aid Approval for the extension of the EMI tax reliefs scheme, which expired on 6 April 2018. HMRC advised against the creation of new EMI Option Schemes from 7 April 2018 as the lapse in approval meant the tax […]
A modern employee incentive means more than just salary
Forgive me for harping on, but I am passionate about EMI Schemes and their benefits. If you are not, allow me a few minutes to convince you.