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The company was formed in 2002.
There is no shareholders agreement.
It has been 12 years since I saw any official paperwork and I can't say what is there. However as we are sisters there was an element of trust that neither party would do anything underhand.
I need to know was it lawful that she issued these shares without my knowledge and why am I not allowed any access to any information on a business I own 50% of.
If I want to maintain my 50% shareholding I have to have this £15k paid today.
I have attached the articles as downloaded from Companies House.
I now see that having invested £65,000 in a business the Director of that company can basically do as they please with shareholders money and not include them in major decisions of the company regardless of the shares held, an a major decision is to issue further shares to increase their own holding and decrease the shares of others.
It would appear that Directors can also pay themselves what they like my sister increased her salary by £14k per year the day after I left having insisted I only take £8k a year for 4 years.
I had to pay the £15k as I did not understand how I could lose my 50% share because she and the accountant said so. I don't think I will ever see any return on this investment as she controls the company according to law.
It would be good to hear what you say.
Yes there are only 80 shares.
It was supposed to be a 100 share company with 20 shares being available for staff incentives ie they would be offered shares in the company instead of bonuses, however this proved problematic so it was agreed only 80 shares would be the 50/50 split.
Thank you for that it was very helpful.