ETASSUM23130 - Schedule 2 share incentive plan (SIP): Shares that may be awarded: Status of the company and its share capital

Paragraph 26 imposes two requirements:

  • One concerns the company whose shares may be used as eligible shares, and
  • »Ê¹ÚÌåÓýapp other requires the eligible shares to form part of the ordinary share capital of that company.

»Ê¹ÚÌåÓýappse requirements should be considered in conjunction with paragraph 27 which concerns the “statusâ€� of the company whose shares are to be used in the plan. For example, if the eligible shares are in a company which is a subsidiary, it must be listed on a recognised stock exchange or have a listed parent (see ETASSUM23220).