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Creaseys sets up share option scheme for fast-growing sports media business

The Challenge

A rapidly expanding sports media client, turning over £16 million, and with an exit planned in the next five years, wanted its senior management team to be incentivised to continue to grow the business.

As a result of investors making a series of significant subscriptions for shares in recent years, the company found itself with an incredibly complex share structure, and the Finance Director was uncertain of the most efficient way to transition to an Enterprise Management Incentive (EMI) Scheme that would be accepted by HM Revenue and Customs, whilst keeping all shareholders happy.

Our Work

Matt Neill, Head of the Creaseys’ Share and Business Valuations Team, commented that, “It is crucial that EMI Scheme valuations are prepared on a sound and robust basis, so that they are accepted quickly and without challenge when they are sent for approval to HM Revenue and Customs.

Creaseys knows what HMRC expects to see in a valuation report and what the potential pitfalls are, so, to date, we have never had an EMI Scheme application rejected”.

The Creaseys Corporate and Business Tax Team also advised on the tax issues of the option scheme, as well as working with the client’s lawyers to ensure that it met its required objectives.

Achieving the Big Picture

Working in collaboration with the Finance Director, and the client’s lawyer, the Creaseys team helped the Finance Director successfully transition from the existing, complex share structure to an Enterprise Management Incentive (EMI) Scheme that conformed to HM Revenue and Customs guidelines and kept all shareholders happy.

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“I'm really happy with the clear way the valuation report is written and with the service being provided by the Creaseys team on all fronts. You have a good team!”

Finance Director