sharesave scheme- company takeover speculation

someday_soon

Hi All

I am saving in a sharesave scheme at work and there has been an offer made for the company. If the company is sold what would the likely outcome be for sharesave members? There are still 2 years to run before the end of my scheme.

Does anybody Know?

Someday Soon

goofy115

Hi,
We had one of these schemes at my workplace a few years back and we were taken over by another company with only a few months left on the scheme.We were still allowed to finish the scheme and buy shares at the offer price but we lost the tax free benefit.The taxman will come knocking if you don't declare it(like he did with me) requesting tax + 7% interest.Ouch!

someday_soon

Many thanks for your reply Goofy

I suppose time will tell.

We had hoped for a little bit of a windfall as the original offer price looks attractive compared to todays price. I suppose the speculation has helped to push the price up. I've done quite well out of these schemes in the past.

Someday Soon