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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.
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