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.
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I would leave things as they are. Whatever the nominal value 100 shares offer a great deal more flexibility than a single share.
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.)
https://www.gov.uk/government/publications/notify-a-redenomination-of-sh...
I think that you need to send a special resolution with it.
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...