Multiple Share Classes
You may have corporate clients where you feel it is appropriate and/or advantageous for them to create new classes of shares.
Different share classes can allow a company to:
- Grant the power to pay different rates of dividend to different classes of share, or to some shareholders and not to others;
- Provide special rights to certain shareholders (e.g. the power to appoint or remove Directors);
- Restrict the voting rights of certain shareholders;
- Grant a right of ‘first refusal’ to certain class(es) of shareholders on a transfer of shares or on any allotment of new shares (this can be either an allotment/transfer of their own class of shares, or of any shares at all);
- Grant preferential capital rights on a Winding Up or other distribution of capital (eg. the sale of the company) so that shareholders of a certain class(es) of shares are entitled to repayment of capital before the holders of any other class of shares.
We at Bourse provide a complete service to assist you with this process, including:
- Drafting and provision of new Memorandum and Articles of Association setting out the required rights and restrictions attaching to the new class(es) of shares – these will of course also be up-to-date compliant with the Companies Act 2006;
- Providing all necessary minutes, resolutions, and company forms required to re-designate the share capital and existing shares in issue and to adopt the new Memorandum and Articles of Association;
- Draft documentation to approve the allotment or transfer of shares in the new class(es), if required;
- Filing of all relevant documentation at Companies House;
- Providing six bound copies of the new Memorandum and Articles of Association, the front page of which can be printed with your own company name/logo if required.
Our fees for this service start at £295 + VAT.
Our Multiple Share Classes order form can be downloaded here for your convenience and do hope that we can be of assistance in the very near future.
Obviously, if your requirements are not met by the standard options on the order form, please let us have details of your exact requirements and we will be pleased to provide you with an estimate of our charges.