The following Corporate Q&A provides comprehensive and up to date legal information covering:
This Q&A looks at the options available to obtain or cancel ordinary shares held by a shareholder in a private company that has articles of association in the form of the model articles (see precedent: Model articles—private limited company—after 28 April 2013).
The Companies Act 2006 (CA 2006) sets out the ways in which a private company’s issued share capital may be dealt with. It provides that:
shares may be transferred (CA 2006, s 544)
share capital may be altered in a number of prescribed ways, eg it may be reduced (CA 2006, ss 617(1)–617(4))
shares may be bought back by a company (CA 2006, ss 617(5)(a), 617(5)(b), Pt 18)
shares may be redeemed (CA 2006, s 617(5)(a), Pt 18)
shares may be forfeited or surrendered in li
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
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