Change of role for Company Secretary

[JenHewlett]

I started my own business and gave my partner one pref share to be Company Secretary. He know wants to come into the business with me and we want to adjust the pref shares(?) so we have 50/50 rights.

Can anyone tell me if and what form I may need to complete at Companies House (it's a limited company)

Thanks!!

Jen

[gordonthegofor]

Read the threads on here about 50/50 shareholdings, DONT

And make sure you have a propper shareholder agreement in place

[elainec100@cheapaccounting]

Are these preference shares or ordinary shares.

You have a couple of options - issue more shares to get the shareholding equal or transfer shares.

Read this:

http://www.companieshouse.gov.uk/about/gbhtml/gba6.shtml

[JenHewlett]

Oh you're right, sorry, they are ordinary shares.

I currently have the only 2. Would you suggest issuing more shares or rather transferring one of them to him?

[Zeno]

Do you actually want to give away 50% of your company?

[JenHewlett]

Yes, it's for my partner who is equalling the money I've put into it. It seemed the fairest way? Although a 51 / 49 would be prefable. Is it possible to issue that many additional shares? Sorry, I'm a novice to limited companies.