Resolutions—allotment of shares—general or specific authority—CA 2006, s 551—unlisted company
Resolutions—allotment of shares—general or specific authority—CA 2006, s 551—unlisted company

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

  • Resolutions—allotment of shares—general or specific authority—CA 2006, s 551—unlisted company

Authority to allot shares—no distinction made between different classes of shares (general or specific authority)

[ORDINARY OR [INSERT OTHER]] RESOLUTION

THAT [, subject to [insert reference to any relevant resolution that sets out pre-emption rights],] the directors are [generally and unconditionally authorised, for the purpose of section 551 of the Companies Act 2006 and generally, to exercise all and any powers of the Company to allot shares and to grant rights to subscribe for, or to convert any security into, shares in the Company to any person, at any time and subject to any terms and conditions as the directors think proper, up to an aggregate nominal amount of £[insert maximum nominal amount] OR specifically authorised, for the purpose of section 551 of the Companies Act 2006 and generally, to [insert details of the specific authority to allot and to grant rights to subscribe for, or to convert any security into, shares in the company, including any conditions that it may be subject to]] and this authority shall:

  1. expire (unless previously varied as to duration or renewed by ordinary resolution of the Company) [on [insert a date being not more than five years from the date that this resolution is passed] OR five years after the date on which this resolution is passed], except that the Company may, before such expiry, make any offer or agreement

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