Sub-division of share capital—board minutes
Sub-division of share capital—board minutes

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

  • Sub-division of share capital—board minutes
  • 1 Notice and quorum
  • 2 Background to proposed sub-division
  • 3 Business of the Meeting
  • 4 Declaration of interests
  • 5 Sub-Division—process
  • 6 Companies House filings
  • 7 Resolutions
  • 8 Close

Sub-division of share capital—board minutes

Company number: [insert]

[insert company name] [LIMITED 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 who are physically 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, 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

      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 sub-division

      The Chairman noted that the current issued share capital of the Company was £[insert figure] divided into [insert number] [insert class] shares of [insert figure] each (the Shares). The Chairman explained that

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