Consolidation Definition

Case studies

"In some areas of research there were also significant time savings. You get to what you are looking for more quickly, which all goes to the value of the product."

Harper Mcleod

Access all documents on Consolidation

GET ACCESS NOW

GLOSSARY

Published by a ��˾��ҹ�� Pensions expert

What does Consolidation mean?

Where a company increases the nominal value of its shares and reduces the number of shares in issue by consolidating holdings. For example, five 5p shares might be consolidated into one 25p share.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Differences between restructuring plans, schemes of arrangement, and CVAs

Differences between restructuring plans, schemes of arrangement, and CVAs Part 26A restructuring plans The Corporate Insolvency and Governance Act 2020 (CIGA 2020) introduced a new restructuring tool, namely a Part 26A restructuring plan. Consultation responses and discussions with stakeholders persuaded the government of the benefits of modelling the restructuring plan procedure on that of schemes of arrangements. As well as familiarity, this had the advantage of providing a long-established and tested body of jurisprudence that courts are able to draw upon when dealing with certain aspects of restructuring plans and considering matters such as class formation (ie relevant scheme case law is applicable to certain provisions of the new restructuring plan procedure, see: Schemes of arrangement—overview). CIGA 2020 introduced a restructuring procedure that allows a company to bind all creditors or members, including junior (or senior) classes of creditors even if they vote against the plan, through the use of a cross-class cram down (CCCD) provision if certain conditions are satisfied (see Practice Note: Cross-Class Cram Down under a Part...

UK prudential regime for banks and designated investment firms—timeline

UK prudential regime for banks and designated investment firms—timeline This timeline shows key developments relating to the UK prudential framework for banks and designated investment firms from January 2024 onwards. For earlier developments, see: Capital Requirements Directive IV (CRD IV) and Capital Requirements Regulation (CRR)—timeline [Archived]. 2025 Date Source Document Description 9 April 2025 PRA Significant risk transfer financing: Prudential expectations The Prudential Regulation Authority (PRA) has published a Dear CFO letter highlighting practices the PRA has observed in relation to illiquid and structured financing portfolios across regulated firms. While the principal concerns outlined in the letter are informed by supervisory information received regarding significant risk transfer (SRT) financing activities, the PRA expects firms to consider the application of the PRA’s feedback to all relevant financing portfolios. Banks engaged in these businesses should ensure that the regulatory capital approach they adopt appropriately reflects the substance of the transactions, including the liquidity of the underlying collateral. 28 March 2025 PRA FPC consultation paper: 2024 O-SII buffer framework review The Financial...

Discover our 3 Checklists on Consolidation

Sub-division and consolidation of shares

There are a variety of ways in which a limited company having a share capital may alter that share capital in accordance with the provisions of the Companies Act 2006 (CA 2006).The restrictions in CA 2006 relating to alterations of share capital do not apply to unlimited companies. For further information on this type of company, see Practice Note: Unlimited companies.Sub-division and consolidationIt is possible to sub-divide or consolidate all or any of the shares of a limited company having a share capital in accordance with CA 2006, s 618.An alternative method of sub-dividing and consolidating shares is by scheme of arrangement approved by the court under CA 2006, Pt 26 or a restructuring plan under CA 2006, Pt 26A. A scheme of arrangement is a process generally used to facilitate mergers and takeovers or to restructure a company in financial difficulties. It is also possible to restructure a company in financial difficulties using a restructuring plan. For further information on schemes of arrangement, see Practice Note: Schemes of arrangement—nature...

Employment claims in Scottish civil courts

Employment claims in Scottish civil courts Scottish civil courts, like their counterparts in England and Wales, can and do decide certain employment disputes. However, there are very significant differences between the civil court systems in Scotland and in England and Wales which practitioners need to be aware of. This Practice Note provides an overview of: • the most common orders sought by employment lawyers in Scottish civil courts • the structure of the Scottish civil court system • the jurisdiction and key features of each relevant court • rights of audience • rules of procedure • important points about: ◦ breach of contract claims in Scotland ◦ injunctive (interlocutory) relief in Scotland ◦ dawn raids in Scotland ◦ industrial relations disputes in Scotland ◦ equality of terms claims in Scotland The purpose of this Practice Note is to provide an introduction to the key features of the Scottish civil court system for employment lawyers. It is not intended to and does not purport to be a comprehensive account of...

Discover our 33 Practice Notes on Consolidation

Phantom share option agreement

Phantom share option agreement This AGREEMENT is made on [insert date of execution of the phantom share option agreement] Parties 1 [insert name of company whose shares are relevant to the phantom option] (registered number [insert registered number of company]) whose registered office is at [insert registered address of company] (the Company); and 2 [insert name of option holder] of [insert address of option holder] (the Option Holder) Background (A) The Company has agreed to grant to the Option Holder as at the date of this Agreement a Phantom Option on the terms set out in this Agreement. (B) The Phantom Option provides an entitlement to cash and not shares. 1 Definitions In this Agreement, except where the context otherwise requires, the words and expressions set out below will bear the following meanings, namely: Cash Payment • means the cash sum payable on the exercise of the Phantom Option, which shall be calculated in accordance with clause 6.2; Control • has the meaning given...

Unapproved share option agreement—standalone deed for employee

Unapproved share option agreement—standalone deed for employee This AGREEMENT is made on [insert date of execution of the share option agreement] Parties 1 [insert name of company whose shares are being granted under option] (registered number [insert registered number of company]) whose registered office is at [insert registered address of company] (the Company);[and] 2 [insert name of option holder] of [insert address of option holder] (the Option Holder) [and] 3 [[insert name of grantor (if different from company)] of [insert address of grantor] (the Grantor)] Background (A) [The Company has agreed to grant to the Option Holder as at the date of this Agreement an Option to acquire Shares on the terms set out in this Agreement. OR The Company and the Grantor intend that, as at the date of this Agreement, the Option Holder be granted an Option to acquire Shares on the terms set out in this Agreement.] (B) [The Company will satisfy the exercise of the Option by transferring or procuring the...

Dive into our 44 Precedents related to Consolidation

Pensions weekly highlights—1 May 2025

This week's edition of Pensions weekly highlights includes a review of key news stories, as well as dates for your diary and trackers.

PSR publishes annual plan and budget for 2025/26

The Payment Systems Regulator (PSR) has published its annual plan and budget for 2025/26, setting out its commitments and priorities over the next financial year, as it moves towards consolidation with the FCA.

Read the latest 16 News articles on Consolidation

Top

Trial

��˾��ҹ��

GLOSSARY