Legal advisor recommendation please

Legal advisor recommendation please

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I have just been filling in form SH01 but have got stuck with section 7. Company had 1 ordinary share and is now setting up another one. According to S 7 of SH01 I have to fill in details of rights attached to the new shares. I am not allowed to attach articles to my form when filing and I have to get the appropriate bit from the articles and laboriously copy it out.

This is really a legal question. I am not comfortable with trying to paraphrase long bits of verbiage from the articles myself. Who do you recommend for this service?

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By User deleted
29th May 2015 11:33

Whilst it's perfectly alright to hire a solicitor to advise you on the rights attached the shares, normally in the case of ordinary shares, some or all of the following can be the rights attached to them:

All shares issued are non-redeemable and rank pari passu in terms of

(a) voting rights which are one vote per each share,

(b) rights to receive all dividend distributions for that particular class of shares, and

(c) rights to participate in any capital distribution on winding up

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By petersaxton
29th May 2015 11:35

Is this correct?

Voting rights

each share is entitled to one vote in any circumstances

Voting, Dividend, Capital and Redemption rights

each share is entitled pari passu to dividend payments or any other distributioneach share is entitled pari passu to participate in a distribution arising from a winding up of the company

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By Moonbeam
29th May 2015 12:23

That's why I need the legal advice! Just found someone..

I told the client it would cost an extra £75 to do the work before I realised I would need legal assistance. That extra £75 is now going to a company secretarial firm who will give me the wording for that fee. I'll even get a free share cert. Woo Hoo! I think £75 is reasonable for this work, if only I'd covered the rest of my time with client.

It's a big lesson to me to charge twice as much as I think I need to charge for this extra stuff in case I need reinforcements. The articles are written in such a way as to not be crystal clear about anything very much in my opinion. But maybe I'm a nitwit.

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By pembo
29th May 2015 13:49

In practice

you can put any old guff and CH will accept it but the example taxguru gives is fine and the one we usually use where the arts are bog standard. This isn't really legal advice but a statement of fact as to the rights attached to the shares. Why lose fees to a solicitor who will charge an arm and drag it out for weeks.

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By Moonbeam
29th May 2015 14:02

Thanks all

I appreciate your advice - you've all been doing this sort of thing for longer than me. The company in question that I went with have already supplied the answers I need, which were even shorter than Taxguru's suggestion. I think £75 is a reasonable price to pay for a one off thing like this. I can crib the answers for the next SH01.

It's just a pity Companies House can't be more helpful in their helpsheets. 

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