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New classes of shares

Client has £1000 authorised share capital, only £1 issued.

Articles give right to directors to issue new shares.

If they want to issue A and B shares, do we need a special resolution to bring in new classes of shares, or is form SH01 enough?

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Not exactly

The concept of authorised share capital was abolished by CA 2006.

You need a Special Resolution to amend the Articles under s.21 CA 2006 to have different classes of shares and to specify the rights of the various classes.  A copy of the Special Resolution and of the Articles as amended must be filed at Companies House within 15 days under s.30 and s.26 respectively.

After allotting the shares, you must then submit form SH01 under s.555.

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