I used to work for a mid-sized family company where the sole shareholder gifted his full

holding to an employee trust. It was written into whatever document bound that trust that the trustees could not benefit financially from selling the shares and that in the event of a sale any proceeds would be donated to charity.

This was all with the intention of protecting the employees and their jobs (if the company was sold and absorbed by a bigger firm then their would inevitably have been redundancies).

Presumably when Delia & Michael do come to pass on their shares, they will be able to stipulate something similar to the aforementioned (save for Tom holding the shares as opposed to an employee trust) so that nobody can benefit financially from the sale of such?

Posted By: NxNW, Jun 9, 14:06:27