ETASSUM43130 - Schedule 4 Company Share Option Plan (CSOP): Shares to be used: Status of the company and its share capital

Paragraph 16 imposes two requirements:

  • one concerns the company whose shares may be used as scheme shares,
  • the other requires the scheme shares to form part of the ordinary share capital of that company.

»Ê¹ÚÌåÓýappse requirements should be considered in conjunction with paragraph 17 which concerns the “statusâ€� of the company whose shares are to be used in the scheme. For example, if the scheme shares are in a company which is a subsidiary, it must be listed on a recognised stock exchange (see ETASSUM43220).