ReNeuron | Share Plan Portal
A leading clinical-stage stem cell business uses RM2 to manage its share plan online
What was the client’s situation?
In late 2015, ReNeuron was approaching the vesting of share awards and was looking for help in assessing if certain market conditions had been met. As part of the award vesting, the company wanted to provide its employees with an cashless online facility. In addition, the company wanted to make further awards and required its share plan rules to be updated, as well as help with growing logistics of administration for its Employee Management Incentive and non tax advantaged share schemes.
What did RM2 do?
RM2 consolidated and manipulated various market data sources to test the TSR Performance conditions associated with ReNeuron’s awards. A summary report was provided to the board of directors noting which market vesting conditions had been met, and which were yet to be achieved. RM2 collated and transferred ReNeuron’s share scheme plan data records onto bespoke share plan software and provided an online Share Plan Portal that allows participants to:
- view awards and plan documents,
- submit online exercise requests,
- communicate with RM2 as plan administrators in a secure environment.
RM2 has continued to administer ReNeuron’s employee share scheme since 2015, making yearly awards and providing guidance when needed. In 2017, the company hopes that awards will awards will be made online only, confining the issue of paper option certificates to a thing of the past, thereby streamlining the grant process.
How did RM2 improve things and what difference have they made?
ReNeuron has benefited by having all share plan records consolidated into one place, with reporting, from individual entitlements to award status able to be quickly and efficiently produced in a consistent manner. ReNeuron has benefited from RM2 wealth of share plan experience in having plan rules that are up-to-date with current legislation.