Share this content
4

How can I get a company share class from 1p to £1

Didn't find your answer?

Search AccountingWEB

I have a client who when they incorporated, or used an incorporation agent had their shares valued or put a value on them of 1p each. It would be much easier though if they only had shares with £1 value.  If there are 100 shares at the moment how can I get them to be £1 do I need to cancel the existing shares and create a new share class with £1 value?  Just haven't done this before so wanted to see if anyone else has experience of it.

 

Replies (4)

Please login or register to join the discussion.

Psycho
By Wilson Philips
14th Apr 2019 22:14

I would leave things as they are. Whatever the nominal value 100 shares offer a great deal more flexibility than a single share.

Thanks (0)
Replying to Wilson Philips:
avatar
By Tax Dragon
14th Apr 2019 23:22

Whatever happened to "it's not my place to comment on the wisdom of what you propose?"?! Maybe being advisor of the year is going to your head! (As you may have noticed, I normally deadpan my humour... no exclams etc. Why the change? I had a brief exchange in here the other day with a Dutch tax student. I'm just trying something different.)

Thanks (2)
avatar
By atleastisoundknowledgable...
15th Apr 2019 08:48

https://www.gov.uk/government/publications/notify-a-redenomination-of-sh...

I think that you need to send a special resolution with it.

Thanks (0)
avatar
By RMorrison
18th Apr 2019 13:18

You would consolidate 100 x £0.01 shares into 1 x £1 share. You use a form SH02 plus Ordinary resolution.

This is not a redenomination.

https://www.gov.uk/government/publications/consolidate-sub-divide-redeem...

Thanks (0)
Share this content