The calculations below are based on a few assumptions.
- No other shares have been issued
- Current shareholders have paid nothing for their shares (and will be subject to CGT at 20% on sale)
- EMI Options are exercised at current share price, only on exit (and will be subject to Entrepreneurs' Relief CGT at 10%)
- Proceeds from EMI Options exercised are added to exit valuation
- Growth Shares are issued at a hurdle above current share price