Board minutes of a private limited company approving a redemption of shares and payment out of capital
Board minutes of a private limited company approving a redemption of shares and payment out of capital

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Board minutes of a private limited company approving a redemption of shares and payment out of capital
  • 1 Chairman, notice and quorum
  • 2 Business of the Meeting
  • 3 Declaration of interests
  • 4 The Redemption
  • 5 Payment out of capital
  • 6 Directors' statement and auditor's report
  • 7 Shareholder resolution
  • 8 Public notices
  • 9 Timing for payment out of capital
  • More...

Company number: [insert company number]

[insert company name] limited

Minutes of a meeting of the board of directors (the Meeting) of [insert full name of company] Limited (the Company)

Held at [insert place of meeting]

Held on [insert day, month and year of meeting] at [insert time of meeting] [am OR pm]

Present:[insert names of director to be chairman] (Chairman)
[[insert names of any directors present by telephone as permitted by the Company’s articles of association] (by telephone)]
[[insert names of any directors present by other means permitted by the Company’s articles of association] (by [insert other means])]
[In attendance:][[insert names of those in attendance, who do not count towards the quorum (eg the company secretary, any legal advisers) (if any)]]
[Apologies:][[insert names of directors who are unable to attend meeting (if any)]]
    1. 1

      Chairman, notice and quorum

      [Insert name] was appointed Chairman of the Meeting. The Chairman reported that due notice of the Meeting had been given in accordance with the Company’s articles of association (the Articles) and that a quorum was present. Accordingly, the Chairman declared the Meeting open.

    1. 2

      Business of the Meeting

      The Chairman reported that the purpose of the Meeting was to consider and, if thought fit, approve:

      1. 2.1

        a redemption of [insert number] redeemable shares of £[insert number] each (the Shares) [for a total consideration of £[insert number]] (the Redemption);

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