Consolidation of share capital—board minutes
Published by a LexisNexis Corporate expert
Last updated on 27/07/2020

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

  • Consolidation of share capital—board minutes
  • 1 Chairman, notice and quorum
  • 2 Background to proposed consolidation
  • 3 Business of, and documents produced at, the Meeting
  • 4 Declaration of interests
  • 5 Consolidation—process
  • 6 Companies House filings
  • 7 Resolutions
  • 8 Close

Consolidation of share capital—board minutes

Company number: [insert]

[insert company name] [LTD OR PLC]

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

Held at [insert place of meeting]

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

Present:[insert name of director to be Chairman] (Chairman)[insert names of directors present]
[[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, usually advisers]]
[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. It was reported that proper 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

      Background to proposed consolidation

      The Chairman noted that the current nominal value of the Company’s [insert class] shares is £[insert figure] (the Shares). The Chairman further noted that the current issued share capital of the Company is £[insert figure] divided into [insert number] Shares. [Insert a brief explanation of the reasons for the

Related documents:
Key definition:
Consolidation definition
What does Consolidation mean?

Where a company increases the nominal value of its shares and reduces the number of shares in issue by consolidating holdings. For example, five 5p shares might be consolidated into one 25p share.

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