Companies House

[DaveBlue]

Does anybody know what "directors have sole rights to shares" mean when listed at Companies House? I have searched the CH website to no avail.

 

[WaveJumper]

You may find the answer here plus there have been several threads on the topic of amending articles

Sole directors and their power to make decisions

The Hashmi v Lorimer-Wing court case has brought into question the ability of sole directors to make decisions. Here's what you need to know.

www.rapidformations.co.uk

 

[DaveBlue]

Thanks WaveJumper but I'm not sure that this answers the original question. There are currently three Directors (not a sole director) but the updated listing of the 29 shareholders in Companies House has the addition of the terminology under the Statement of Capital (Share Capital) listing.

It states Prescribed Particulars - Directors have sole rights to shares and I can't find out the implications.

 

[WaveJumper]

Without seeing the actual filing on the face of it and without hopefully going completely off in the wrong direction, it could well be the detail of what is written in articles, ie the difference between the rights of shareholders vs that of the directors or director, has one of the latter been given full control over running the show ?

Our forum member @The Resolver will probably be able to give us chapter and verse on the subject

 

[DaveBlue]

Thanks again WJ. Here is the CH listing. I will email the resolver. I am not allowed to post a link but it is here in a broken state:
web services bc. com/sole-rights.jpg

 

[Gyumri]

Does anybody know what "directors have sole rights to shares" mean when listed at Companies House?

Scroll down to "What are Prescribed Particulars":

A guide to company shares

Read our guide to understand the basics of company shares, including different classes, shareholders' rights, and reporting changes to share capital.

www.1stformations.co.uk

 

[DaveBlue]

There are no mentions of sole rights, only sole Directors.

 

[The Resolver]

You say there are 29 shareholders for 29 shares so one each. I presume therefore this is a property management company with every apartment owner having a share.

The intention in its registration may be to require that every shareholder was also a Director and therefore collectively responsible for running the company and with no right to transfer to someone who does not own an apartment. This would likeky be explained in the Articles of Association. If you email me/PM me the name of the company I will check out the Articles.

It looks like whoever filled out the registration forms has made a mistake as this space on the description of the shares is primarily meant to identify what rights attach to the shares, ( e.g. right to vote, right to dividends, right to share in a distribution of resulting net assets on a voluntary liquidation ) and not to conditions of ownership of shares. These other rights are absent from the form