Share this content
1
589

Shares when resigning as a company director

Am I entitled to keep my 24% shares if I resign?

Hi, I really need some advise please. I started a recruitment agency three months ago with a business partner and an investor. Due to a relationship breakdown I no longer wish to work with the limited company, I am a Director with my BP, we both hold 24% and the investor 52%. I have class A and B shares within the company. If I resign will I loose my shares? Or am I wiser keeping things as they are with companies house and not playing an active part in the business? I do not wish to be involved any further as I am setting up to trade as a sole trader and want to avoid any complications.

thank you 

Replies

Please login or register to join the discussion.

07th Nov 2017 23:26

What constitutes a complication for you? Seek paid for professional advice. Why ask a bunch of useless wasters on the internet? Seriously!

Thanks (0)
avatar
to Portia Nina Levin
07th Nov 2017 23:36

Helpful thanks

Thanks (1)
07th Nov 2017 23:37

I imagine your own accountant and solicitor aren't currently available, and you need to sort this out right now.

Thanks (0)
avatar
07th Nov 2017 23:38

More helpful than most recruitment agencies

Thanks (0)
to Cheshire
07th Nov 2017 23:43

You'll incur the wrath of the Partridge in the morning, you will.

Thanks (0)
avatar
to Portia Nina Levin
07th Nov 2017 23:44

I will live dangerously until then and revert to my usual spot in the naughty corner in the morning then.

Thanks (0)
to Cheshire
07th Nov 2017 23:56

I'm learning Spanish. Comes cangrejos como un cochon. I haven't figured out how to do letters with accents over them though, which can leave things a little ambiguous.

Thanks (0)
avatar
to Portia Nina Levin
08th Nov 2017 00:30

This will help
https://usefulshortcuts.com/alt-codes/accents-alt-codes.php

Wouldn't want your insults to be ambiguous. -p

Thanks (0)
to Portia Nina Levin
08th Nov 2017 09:42

Would hate to disappoint.

Thanks (0)
to Cheshire
08th Nov 2017 09:41

In my experience, users of recruitment agencies pretty much get the service they deserve.

Thanks (0)
avatar
to andy.partridge
08th Nov 2017 10:13

I did say most, not all. I would never use most of them. Fortunately I know who the good ones are.

Thanks (0)
to Cheshire
08th Nov 2017 10:26

Cheshire wrote:

I did say most, not all. I would never use most of them. Fortunately I know who the good ones are.

I expect they know who you are, too.

Thanks (0)
08th Nov 2017 08:29

No you will not lose your shares if you resign as a director. Your position as a shareholder is completely separate from your position as a director.

Thanks (1)
avatar
08th Nov 2017 09:18

You don't lose your shares however if there is a shareholders agreement in place, there could be a provision to hand over shares in certain scenarios.

Thanks (0)
08th Nov 2017 09:20

Is there a shareholders' agreement? If so, have you read it?It is entirely possible that this includes a provision for what happens if someone decides to leave the business.

You are assuming that you will have a choice what to do, but that may not be the case. Put it another way, if you were staying and both the others were going, would you want them to retain part ownership of the company?

Thanks (0)
avatar
08th Nov 2017 11:58

It's worth checking the Mem & Arts. I've known them that state a shareholder will have to sell their shares on ceasing to be a director

Thanks (1)
Share this content