2021 onwards (Jacobs investment) period
In March 2021, Jacobs invested in PA. In our new parent company for the PA Group employees own 35% of PA and our strategic investor Jacobs own 65%. During the investment employee shareholders interests are represented by our Stakeholder Representatives.
A new investment proposal for Jacobs to acquire all of the PA shares they do not already own was announced to PA shareholders on 5 January 2026. The progress to completion of the new investment - including all date and times when individual shareholders can participate - is set out below:
5 January 2026
Investment announcement and estimated share prices communicated
6 January 2026
Personal illustration of share value provided
26 January 2026
Shareholder letter issued [for information]
5 February 2026 to 5pm UK time on 25 February
Scheme Circular, voting forms, and tax election were available to Scheme Shareholders.
26 February 2026 10 AM
The Scheme was approved at the meeting of Scheme Shareholders where the Chair of the meeting voted all submitted forms of poxy on behalf of shareholders. All scheme shareholders could, if they wished to, attend this meeting in person.
16 March 2026 10:30 a.m. Companies Court (Chancery Division) Rolls Building, Fetter Lane, London EC4A 1NL
UK Court meeting to seek final approval (‘sanction’) of the Scheme following the shareholder vote and receipt of regulatory approvals. All Scheme shareholders can, if they wish to, attend this meeting in person.
TBC 2026 (expected late March)
Closing: Scheme sanction is filed at UK Companies House. PA shares are sold.
Within 10 business days of Closing
Closing cash paid and Closing Jacobs shares registered in the name of Scheme shareholders
TBC 2027 (12 months after Closing)
Lock up period ends. Jacobs shares can continue to be held, transferred or sold
TBC 2028 (24 months after Closing)
Deferred consideration due: Payable in Jacobs shares delivered at the prevailing market price, or in cash, or in a combination of shares and cash at Jacobs’ discretion
Other than when share matters are subject to a Scheme of arrangement or other sale process, PA shares are governed by the Articles of Association of our UK parent company, PA Consulting Group Limited.
Tax guidance
Tax guidance on the 2026 second Jacobs investment
Notes will be provided following closing of the investment
UK tax guidance for PA share sales from April 2021 onwards
If you sold shares in the annual April/May share market, or your shares were sold later in the year as a leaver from PA, you must consider whether you need to report your sale in your tax return for the tax year (6 April to following 5 April in which your shares were sold. Guidance is provided in our UK capital gains tax notes 2021/22 onwards. The notes include an Excel calculator to help you calculate and report your gain.
Guidance for US, Denmark, Norway, Sweden, Netherland people for share sales April 2021 onwards
If you sold shares in the annual April/May share market, or your shares were sold later in the year as a leaver from PA, you must consider whether you need to report your sale in your tax return for the calendar tax year in which your shares were sold. You can review our Capital Gains guidance for people based outside the UK. The notes include a link to your PA share history showing your purchase and sale prices.
Tax guidance provided by PA for the March 2021 Jacobs investment
As a result of the March 2021 investment all Carlyle period PA shares were sold. PA did not report sales or deduct taxes from the March paid sale proceeds. Shareholders must personally consider reporting the gains they made on their sold shares to their tax authority and paying any taxes due.
UK people need to report any taxable gains in their 2020/21 tax return. People outside the UK report in their 2021 calendar year returns.
UK taxpayers needed to assess, and if necessary to have reported their capital gains and pay taxes due on this sale to HMRC by 31 January 2022. While reporting and tax payment is, and remain, personal responsibility, we want to help and do so though these Tax information notes. You can also use this Jacobs Investment S104 Excel sheet (zipped) to extract your share records and to assess your gains position. Contact shareplans@paconsulting.com if you a former employee not able to access the excel report.
PA shareholders outside the UK should review the Tax information notes for their country. For most, tax reporting will have been due in the first half of 2022.
