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?
Replies (5)
Please login or register to join the discussion.
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
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
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.