Amend UK Model Articles of Association to create Preference Shares
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Description
Experience Level: Expert
PROJECT: Amend UK Model Articles of Association to create Preference Shares
A. I have a newly incorporated UK Private Limited Company
B. The Company is valued at £1 by way of 1 x £1 ordinary shares
C. The Company is a wholly owned subsidiary of another UK Limited Company with one shareholder (me).
D. I would like to create Preference shares (for the subsidiary) paying out a fixed annual dividend 6.75%
The preference shares are intended for a small number of friends and family/
ITEMS FOR REVIEW AND QUOTATION
1. Amend the 2006 model Articles to create Pref shares
1.1. The preference shares will be:
1.1.1. Pay an annual dividend of 6.75%
1.1.2. Non-voting
1.1.3. Irredeemable
1.1.4. And callable (at any stage by the shareholder of the Ordinary shares at any stage)
2. Approve adoption of new Articles
Subject to cost, I may also seek to have a draft resolution created to approve the adoption of the new articles and (we can file them at Companies House)
3. Issue and Allot the Shares (1 individual only)
3.1. Subject to cost, I may also seek to issue and allot the new shares by completing the SH01 which we can submit to Companies House and
3.2. Draft the board minutes to reflect the above
4. Subject to cost, I may also seek to implement a Shareholders Agreement
Notes
The project is non-complex in essence as we are simply seeking to make a small amendment to the existing articles to include pref shares and attach 4 parameters detailed in Section 1 above.
The additional items covered in section 2-4 are all standard documents.
WITH CONSIDERATION TO THE OPTION TO COMPLETE ONLY SECTION 1 ABOVE OR SECTION 1-4, PLEASE PROVIDE QUOTATIONS FOR SECTIONS 1 AND ALSO FOR SECTIONS 1-4.
We are seeking to have the work carried out immediately.
Feel free to come back to me with any queries,
Many thanks in advance,
A. I have a newly incorporated UK Private Limited Company
B. The Company is valued at £1 by way of 1 x £1 ordinary shares
C. The Company is a wholly owned subsidiary of another UK Limited Company with one shareholder (me).
D. I would like to create Preference shares (for the subsidiary) paying out a fixed annual dividend 6.75%
The preference shares are intended for a small number of friends and family/
ITEMS FOR REVIEW AND QUOTATION
1. Amend the 2006 model Articles to create Pref shares
1.1. The preference shares will be:
1.1.1. Pay an annual dividend of 6.75%
1.1.2. Non-voting
1.1.3. Irredeemable
1.1.4. And callable (at any stage by the shareholder of the Ordinary shares at any stage)
2. Approve adoption of new Articles
Subject to cost, I may also seek to have a draft resolution created to approve the adoption of the new articles and (we can file them at Companies House)
3. Issue and Allot the Shares (1 individual only)
3.1. Subject to cost, I may also seek to issue and allot the new shares by completing the SH01 which we can submit to Companies House and
3.2. Draft the board minutes to reflect the above
4. Subject to cost, I may also seek to implement a Shareholders Agreement
Notes
The project is non-complex in essence as we are simply seeking to make a small amendment to the existing articles to include pref shares and attach 4 parameters detailed in Section 1 above.
The additional items covered in section 2-4 are all standard documents.
WITH CONSIDERATION TO THE OPTION TO COMPLETE ONLY SECTION 1 ABOVE OR SECTION 1-4, PLEASE PROVIDE QUOTATIONS FOR SECTIONS 1 AND ALSO FOR SECTIONS 1-4.
We are seeking to have the work carried out immediately.
Feel free to come back to me with any queries,
Many thanks in advance,
Schiff S.
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