Converting ordinary shares

A client wants to convert an ordinary share (amounting to a 50% stake in the company) into redeemable preference shares due to one party seeking to take a back seat in the business.

The shareholding has been valued and appropriate resolutions passed to enable the company to issue the required number of preference shares.

What further steps need to be taken to convert the ordinary share into the authorised preference share, what resolutions are required, and do they need to be filed at Companies House?

Stuart Pearce