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There are 3 of us, 2 are brothers. We are setting up a company and doing a shareholders agreement. Nothing amazing, we are all friends etc...my only concern is this, can i limit the voting power of the 2 brothers? I am concerned that they may decide one day to outvote me. I have 50% of the company as I am inputting the intellectual property etc...the 2 brothers have 25% each.
I guess both. I just don't want to be in a position whereby they can simply outvote me. My concern is that I will put all the work in such as intellectual property and they go against me
Sorry for late reply. So when you say The shareholders voting doesnt need to be covered as it is already taken care of in the numbers of shares which are 25,25,50. Are you saying that the brothers who have 25% each cannot outvote me?
Will do a service directors agreement also.
Do I need to class the shares i.e. Class A or Class B.
I am going to opt out of this for another expert to consider. Please do not reply or it comes back into my inbox. Another expert will pick it up at some stage. It is now open to all experts.
Thank you senior partner. I apologise for delay in replying.
The provision of a list of things that cannot be done without all in agreement or myself seems to be the easier way forward.
The other 2 directors mentioned an authorised share capital of 2000 shares divided into 1000 class A ordinary (voting) 1000 class B ordinary (Non voting) 105 shares issued to date and fully paid
1 class A share and 50 class b for me
1 class A Share and 25 class b for another
As i say, i believe the list method would be more easier to manage. I guess we can include something to say that the list can be amended as and when needed?
I will await your response and rate the answer
I noticed from the paperwork that out of 2000 allocated shares, fully paid, it states 105 have been issued. If you total the shares allocated to all 3 of us, it totals 103. Please forgive me for this, does this mean that there are 2 shares outstanding that have not been declared?
I t has been a learning curve and good to converse with you.
If i need more assistance, can I come back to you?
I will rate as excellent