Hi Tommy,
I noticed you posted a message on this forum a couple years back regarding shares.
I am in a similar position. I own 70% of a private ltd company. There are 10 shares each valued at £1 each. I would like to allot 1000 more shares and purchase them myself.
I have decided to allot more shares because the company is currently trading insolvent and I would like to pay debts by paying the company £1k in return for more shares.
Can you tell me who decides when further shares are to be alloted? And also, as the majority shareholder (70%) and Director, do I have to inform the other shareholder? We don't see eye to eye.
Thanks
I noticed you posted a message on this forum a couple years back regarding shares.
I am in a similar position. I own 70% of a private ltd company. There are 10 shares each valued at £1 each. I would like to allot 1000 more shares and purchase them myself.
I have decided to allot more shares because the company is currently trading insolvent and I would like to pay debts by paying the company £1k in return for more shares.
Can you tell me who decides when further shares are to be alloted? And also, as the majority shareholder (70%) and Director, do I have to inform the other shareholder? We don't see eye to eye.
Thanks