.Can you tell me exactly when the EMI option was granted and exactly when it was exercised please. You mention an election. Are you referring to entrepreneurs' relief?
Sorry - yes I was referring to entrepreneurs relief.
The options were granted in 2010 and exercised 6/4/12.
No. They were all EMI and no other shares existed at the date.
They were sold in exchange consideration (cash), some other shares (which have not been sold) and some loan notes.
Thanks advise and I think that makes sense.
I suppose your comments above are what this is referring to:
I think this is what I had understood re. the time limit of 31/1/14,
I guess what I was trying to understand was whether it would have been an option (if I had a time machine).
I think the answer is no? While irrelevant just interested..
What I was trying to understand is whether the transition arrangements relaxed the 6/4/2013 date that this would apply from i.e. i held the options > 1 year.