Employee Benefits

Our expertise in employee benefits includes advising on establishing share incentive and bonus schemes (both in the UK and internationally), employee trusts and cash and other incentive schemes.

We also advise our clients on share scheme aspects of transactions and generally on employee benefit matters. While there has been a reduction in the level of mergers and acquisitions activity recently, our practice has continued to have a strong bias towards dealing with the share scheme aspects of corporate events such as rights issues and re-domiciles.

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Our key experience includes advising:

Cambridge Silicon Radio (CSR) plc, a leading global provider of personal wireless technology, on the transfer of its handset operations to Samsung Electronics Co. Ltd. We advised CSR on the share scheme aspects of this transaction, including the effect of the transaction on the awards under the existing schemes, and in relation to new schemes for the retained group.

Aegis Group plc on the share schemes aspects of the recommended cash offer by Dentsu Inc.

Terra Firma, a leading private equity firm, on the establishment of complex management incentive arrangements as part of the acquisition of Four Seasons Healthcare, the UK’s largest independent specialist care provider.

Palamon Capital Partners and TL JerseyCo Holdco Limited (the parent of the Towry group) on the raising of £35 million to provide additional funding for Towry’s expansion plans. The matter raised a number of interesting issues in relation to allowing participants in the various share schemes to participate in the arrangements.

Schroders plc on the implications for Cazenove Capital Holdings employee share schemes and deferred share compensation arrangements of the offer by Schroders valuing Cazenove Capital at £424 million.

Countrywide plc on the share scheme aspects of its IPO on the London Stock Exchange and the establishment of new employee incentive arrangements.

esure Group plc on the share scheme aspects of its IPO on the London Stock Exchange and the establishment of new employee incentive arrangements.

FirstGroup plc and Thomas Cook plc on the share schemes and incentives aspects of their rights issues, raising £615 million and £305 million respectively.