Cessation of Person with signifcant control - what happens to shares?

[James Parnell]

Hello,

I have tried to find the answer to this question but I can’t seem to get an answer, I hope someone can help me.

If someone with significant control are ceased in a limited company do they lose their shares in the company and if so what happens to those shares?

Thank you,

 

[Newchodge]

No. They have lost control, they keep their shares unless there is something in the shareholders' agree,emt to the contrary.

 

[Mr D]

Ceased in a limited company - what is that?

 

[Blaby Loyal]

If they don't do anything with their shares then they remain as a person with significant control if those shares give them a 25% or more holding.