Jurisdiction(s):
United Kingdom

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

UK Takeover Code: employee share plan treatment, Rule 15 proposals, co-operation agreements, SAYE/SIP, management incentivisation (Rule 16.2) and Rule 21 frustrating action on public takeovers

Published by a LexisNexis Share Incentives expert

Practice notes

To many, the formal announcement of a bidder’s firm intention to make an offer for a company’s shares signals the start of a takeover. For those managing the target’s share Plans, however, the starter’s pistol sounds weeks earlier, at the point of the initial approach to the target. The timeframe from that pre-announcement stage through to Completion is overseen by the Takeover Code. From 3 February 2025, the Code will apply to offers for, broadly, any company listed or admitted to trading on a UK regulated market, a UK multilateral trading facility, or any stock exchange in the Channel Islands or Isle of Man (including a company that until recently had such a listing or admission) with its registered office in the UK, the Channel Islands or the Isle of Man. This amounts to a narrowing of the Code’s scope compared with its reach before that date and, for example, means UK public companies that have never been listed in the UK, the Channel Islands or the Isle of Man will no longer fall within the Takeover Code once a two-year transition period...

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Liz Pierson

Deloitte

Liz Pierson is the legal lead for Deloitte’s Reward practice. She advises on executive remuneration and incentives issues for both public and private companies. Liz has experience in advising on corporate governance issues relating to remuneration and incentives, remuneration for financial institutions and on the impact of corporate transactions on share plans (e.g. IPOs, takeovers, rights issues). She also has significant experience in advising on incentives for private equity portfolio companies, including acquisitions and disposals, incentives for management and the “unwinding” of EBTs....

Web page updated on 22/05/2026

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