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Company Law - allotment of shares
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If a company allotted shares to three directors when it was incorporated - but one director did not pay anything on her shares - then she decided to leave even before the company started trading - can the company cancel that allotment and then re-allot them between the other tow directors?
She says she wants to keep the shares allotted to her but has not paid for them - but how do you go about telling companies house they are not hers?
She says she wants to keep the shares allotted to her but has not paid for them - but how do you go about telling companies house they are not hers?
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For more on marking an answer as the "Best Answer", please visit our FAQ.have you got a shareholders agreement in place? they sometimes state that the shares must be given back to the company if you leave other than by retirement or ill health. If this isn't written in then its my understanding that she will continue to hold the shares.
If this is a newly formed company that hasn't even started trading yet, why don't you consider folding that business and start a fresh one between the 2 of you? If your lucky you will be able to do it with just a very discrete name change.
If this is a newly formed company that hasn't even started trading yet, why don't you consider folding that business and start a fresh one between the 2 of you? If your lucky you will be able to do it with just a very discrete name change.
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