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ETASSUM36050 | Schedule 3 SAYE option schemes: Exchange of options: When a rollover of options can take place

From HM Revenue & Customs · Employee Tax Advantaged Share Scheme User Manual

Scheme rules must only permit exchanges of options:

  • to be triggered by the occurrence of the events specified in paragraph 38(2):

  1. the acquiring company obtaining control of the company whose shares are used in the scheme by a general offer (paragraph 38(2)(a)),

  2. the acquiring company obtaining control of the company whose shares are used in the scheme by a compromise or arrangement (paragraph 38(2)(b)),

  3. the acquiring company obtaining control of the company whose shares are used in the scheme as a result of a non-UK company reorganisation arrangement (paragraph 38(2)(ba));

  4. the acquiring company becoming bound or entitled to acquire shares in the company whose shares are used in the scheme (paragraph 38(2)(c)),