Changing share structure

Changing share structure

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My client has a Ltd Co with 1 x £1 share. It would be beneficial for his wife to have some shares too.

We would like to change the share structure to 100 x £0.01 shares. 49 shares will be gifted to his wife. 51 shares will remain in contractors hands.  He will then retain a controlling interest.

Can you confirm the process for this as I've never actually done it?

1. Ltd Co has to pass an ordinary resolution to change share structure

2. Complete form SH02. Client to sign

3. Complete a stock transfer form. Shares will be gifted so no stamp duty. Form does not need to be submitted to Co House. Presumably just update details on annual return? Client to sign.

Is there anything else I need to do or any pitfalls I need to be aware of?

Thanks

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