🏢 EMPLOYEE SHARE SCHEMES ON THE GSE — WHAT YOU NEED TO KNOW ZEN Petroleum is set to hand shares to its own employees 👀 But did you know the GSE has a full rulebook governing exactly how that works? Here's a breakdown of **Rule 80 — Employee Share Schemes** 👇 --- 📋 WHAT IS IT? A formal arrangement where a GSE-listed company issues or sells shares (or options) to its own staff — turning employees into shareholders. --- 📄 STEP 1: GSE APPROVAL REQUIRED Before anything starts, the company must submit: 1. A draft copy of the scheme 2. The trust deed (if applicable) 3. A circular on adoption or amendments The **GSE must approve** all documents. No shortcuts. --- 📊 THE 10% CAP Total shares under any Employee Share Scheme **cannot exceed 10% of the company's issued shares.** That's the hard ceiling — no exceptions. --- ✅ WHAT THE SCHEME MUST COVER The scheme (approved at a general meeting) must specify: 👤 Who qualifies — called *"participants"* 📈 Max entitlement per person 💰 Pricing, payment terms & conditions 🗳️ Voting and dividend rights 🚪 What happens when an employee leaves, retires or dies --- 🚫 TRUSTEES CANNOT PARTICIPATE If you're overseeing the scheme as a trustee, you **cannot** also benefit from it as a participant. Rule 80(13). No conflict of interest allowed.