About this document
Unless provided for in the company’s articles of Association, all private companies must offer new shares with pre-emption rights. That is simply the law. Any new offer for shares in the company shall first be made to them in proportion to their existing shareholdings.
It ensures non-dilution of existing stake-holder’s interest in the company due to the further allotment of shares.
This is called a pre-emption right. This right can however, be made inapplicable if a specific procedure is followed. We have created two packs that deal with allotment of new shares: one, when pre-emption rights apply; two, when pre-emption rights do not apply.
This pack includes all the documents and forms required to allot new shares, ensuring pre-emption rights are not given first.
This pack is suitable for:
- Any director;
- Or shareholder;
- Of a private limited company;
- Wanting to allot new shares;
- Without pre-emption rights;
- For any reason.
Note, a company can only allot without pre-emption rights where the Articles of Association permit them to do so.
If you need documents to allot new shares with pre-emption rights, links are provided right.
All Net Lawman company documents have been amended to comply with the Companies Act 2006.
Application and features
- Ensures compliance with the law and the proper allotment of shares;
- Includes all the documents and forms required to allot new shares;
- Complete with explanatory guidance notes.
Contents
- Procedure for allotment of shares;
- Notice of board meeting;
- Minutes of board meeting;
- Letter of allotment;
- Letter of renunciation;
- Registration application form.
Draftsman
This document is drawn and maintained by qualified lawyers at Net Lawman. It is real law in plain English.
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