Firm Profile

Postlethwaite Solicitors Limited

UK Guide 2024

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Postlethwaite Solicitors Limited

Postlethwaite Solicitors Limited

Contact number

020 3818 9420

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About

Provided by Postlethwaite Solicitors Limited
UK

DIRECTORS: Robert Postlethwaite and David Reuben

NO. OF LAWYERS: 5


AREAS OF PRACTICE

-Employee Ownership

-Employee Share Schemes


INDUSTRIES

Postlethwaite Solicitors work with businesses from all sectors and industries across the UK.


THE FIRM

Postlethwaite Solicitors is a 100% employee owned boutique legal practice specialising in employee ownership since 2003, with offices in London and Leeds. Founded by Robert Postlethwaite twenty years ago, it is now recognised as one of the leading firms in the UK in this area, having helped over 130 companies made the transition to become employee owned and has a reputation for excellence. The firm has five lawyers and has clients throughout the UK and overseas.


PRINCIPAL AREAS OF WORK

Employee ownership transactions, from design to implementation and beyond, including:

■ Design of share ownership arrangements (for UK and non-UK owned organisations)

■ Structuring arrangements for succession, especially using employee ownership trust tax reliefs, in relation to which the firm is widely regarded as a market leader; and

■ Implementation of share ownership arrangements


Employee share schemes and all ancillary aspects, including:

■ Advice on the structure, design and implementation of EMI schemes, CSOPs, Growth Shares, JSOPs, Share Incentive Plans and other bespoke forms of share scheme

■ Internationally mobile employee and cross-border issues

■ Agreeing company valuations with HMRC for share scheme purposes

■ Share scheme aspects of mergers and acquisitions and other corporate events; and

■ Share scheme administration


RECENT WORK HIGHLIGHTS


Hattons of London Ltd

We led the design and implementation of the ownership succession plan involving the acquisition by an employee ownership trust of 100% of the shares in this company. In bringing the transaction to fruition, we worked closely with a firm of accountants who had a long-standing relationship with the client and who prepared the valuation.

Our close ties with the client continue, as we have taken on the significant role of independent trustee of the Employee Ownership Trust.

Contact: David Reuben, [email protected], Toby Locke, [email protected]

Tel: 020 3818 9420


Lyon Equipment Limited


Design and implementation of ownership succession plan involving the acquisition by an employee ownership trust of 100% of the shares in this company. The project involved designing an employee ownership structure which matched the practical and commercial needs of the company and its shareholders and then covered the full legal implementation, advising on all legal and taxation issues and documentation.

We obtained clearance from HMRC, advised the company on all aspects, drafted all documents and implemented completion of the project.

The purpose of the project for the shareholders was to preserve the Company’s independence, transfer ownership to the employees and realise the value of the shareholdings.

This project also involved the exercise of EMI options by a large number of employees prior to the acquisition, which enabled them, as well as the principal shareholders, to participate in the sale and realise value. The project completed in two stages to enable the key documents to be approved and then offer letters circulated to option holders prior to final completion.

Contact: Robert Postlethwaite, [email protected],Judith Harris, [email protected]

Tel: 020 3818 9420


Minehead Medical Limited

NHS GP practice Minehead Medical Centre, became 98% owned by an employee ownership trust (EOT) allowing its 50 staff members to have a greater say in how the practice is run without investing their own money. It is hoped this will help make the practice more attractive when recruiting GPs (removing the need for them to invest as partners) and other staff.

It was the first individual GP practice in the country to transition to an EOT.

We assisted in seeking approval from the medical boards for the South West region and worked closely with NHS consultants to design a shareholding structure that was suitable for an NHS medical practice.

Contact: Robert Postlethwaite, [email protected], Hannah Tinsley, [email protected]

Tel: 020 3818 9420


Wise Productions (UK) Limited


The project involved designing an employee ownership structure including a replacement EMI scheme. The project also needed to match the practical and commercial needs of the company, its founder shareholder and its option holders and cover the full legal implementation, advising on all legal and taxation issues and documentation. This enabled the founder shareholder to preserve the Company’s independence, transfer 70% of ownership to the employees, whilst realising the value of his stake in the business.

Contact: Robert Postlethwaite, [email protected] or Toby Locke, [email protected] or Hannah Tinsley, [email protected]

Tel: 020 3818 9420


Readly International AB

We continue our long-standing relationship with Readly, a multinational Swedish listed digital magazine subscription company, in establishing a Company Share Option Plan (CSOP) for its UK based employees. This was accompanied by an unapproved share option scheme to act as a top-up for larger awards.

Introducing these schemes posed several tricky challenges. In particular, the options were to relate to Warrants over the Swedish listed shares and the UK schemes had to mirror, in so far as possible, the complex terms of the existing Swedish incentive scheme, whilst still remaining within the confines of the CSOP legislative framework.

Contact: Toby Locke, [email protected]

Tel: 020 3818 9420

Ranked Offices

Provided by Postlethwaite Solicitors Limited

UK - Head office

Postlethwaite Solicitors Limited rankings

UK Guide 2024
UK-wide
Employee Share Schemes & Incentives: Employee Ownership
1 Department
2 Ranked Lawyers
Department
Employee Share Schemes & Incentives: Employee Ownership
1
Employee Share Schemes & Incentives: Employee Ownership
1
Band 1
Lawyers
David Reuben
1
David Reuben
1
Band 1
Robert Postlethwaite
1
Robert Postlethwaite
1
Band 1