ETASSUM43200 | Schedule 4 Company Share Option Plan (CSOP): Shares to be used: Swiss Bearer Participation Certificates (SBPCs)

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

Swiss Bearer Participation Certificates (SBPCs) with par value, as distinct from Profit Sharing Certificates will qualify as ordinary share capital for the purposes of Paragraph 16.

See https://www.gov.uk/guidance/employment-related-securities-bulletin-31-march-2019#definition-of-ordinary-share-capital-for-employee-share-schemes (link is external) and /manual/company-taxation-manual/ctm00512