ETASSUM33230 - Schedule 3 SAYE option schemes: Shares to which schemes can apply: Open market test
For companies with more than one class of shares, if the scheme shares are not 바카라 사이트渆mployee-control바카라 사이트� shares, they must satisfy the 바카라 사이트渙pen market test바카라 사이트� in paragraph 22(3)(a). This means that the majority of the shares of the scheme class must be held by what can be summarised as 바카라 사이트渙utsiders바카라 사이트�, specifically:
- persons who did not acquire their shares 바카라 사이트渁s a director or employee바카라 사이트� of any company (paragraph 22(3)(a)) (see ETASSUM33240),
- persons who acquired their shares in pursuance of an offer to the public (paragraph 22(3)(a)),
- trustees - but excluding the shares they hold on behalf of persons who acquired their interests in the shares 바카라 사이트渁s a director or employee바카라 사이트� and not in pursuance of an offer to the public (paragraph 22(3)(b)),
- companies - but excluding, if the shares to be used in the scheme are in an unlisted subsidiary company, shares held by companies which control or are associated with that company (paragraph 22(3)(c)).