I have a new client with two unrelated shareholders/directors who work significantly different hours etc. in the service industry and want to extract profits accordingly. Very small company turnover under £100k. They have used model articles and this does not allow the issue of diffract class of shares ( I don’t understand why the restriction?). What is required is the existing 2 shares to be reclassified as A shares and the issue B and C shares .
I have looked into this and what is required is to have a special resolution followed by either amending the existing articles or issue new articles. I assume easiest would be to submit new articles , followed by issuing the nee class of shares. I could tell then to go to solicitors who I guess would a few hundred pounds which is not necessary.
My questions are
1. How do I get a hold of a new set of articles of association which are compliant for this and just send them to companies house with the special resolution?
2. How do I change the existing shares to A shares. Is this simply a resolution and inform companies house