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Do you have any form of shareholders agreement please?
We do have a shareholders agreement.It is attached hereto for perusal.
They can't push you out, as a minority shareholder you would have protection from unfair treatment under the Companies Act 2006
So that you don't need to worry about.
As to request profit and loss, these would not normally be available until the AGM.
But if they are not provided at an AGM then you can seek a Court Order.
This is because it is a legal requirement.
It is not necessarily a legal requirement as a Director, but you would hope that this would be provided, although the agreement does not say that this needs to be disclosed outside the AGM
But they can't get you out and you can request disclose at the AGM
Can I clarify anything for you about this today please?
Simon Harvey (10% A shares) was ousted by the other three shareholder/directors in January 2013 but he is still shown on the records at companies house and there has never been any re-distribution or rescindment of his a shares. He was a silent shareholder (He actually sold the original business to us 4.As one of the other 4 Shareholder/Directors each of us has a 'functional' responsibility - which we have all fulfilled to the best of our ability (mine is Food Safety, Quality Assurance) - Can I stop providing the service until I get information from them... would this jeopardise my position and give them grounds to oust me as I seem to be getting no-where at the moment.
I would not do that, that could be a reason to terminate.
You could request an EGM of course but need to give 14 days notice and table a resolution for the documents
Terminate? as in oust me?
They could try
So I would not do anything to compromise your position.
OK. I think this tells me enough for now as I am owed expenses which I have been asking for yet they take £500 a month a service charge paid to their other company for things like waste and deliveries etc.All very one-sided at the moment. It feels like I need to seek further legal advice and get a letter written to the other three.
I would do that yes, but certainly at least once a year you are entitled to see the P&L
So make a formal request for the P&L/balance sheets and see where things go next.You have been very helpful and worth the cost of the service.Thankyou.
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