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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
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Experience:  English solicitor with over 12 years experience
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This relates to a UK private company. My wife is both a shareholder

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This relates to a UK private company. My wife is both a shareholder and, along with two other siblings, also a director of a family owned private company. For sake of clarity all the shares are owned by siblings. The business is renting out farmland and some buildings. The value of the farmland, the only real asset of the company, is significant.
Some of the siblings want to sell the farm land and then take money out of the company via a special dividend or by dissolving the company. Others want to take some money out and the business to continue and some want to essentially carry on as at present.
They have decided to hold an informal family meeting (there are seven of them) but I am concerned about my wife's position and her participation (and that of her sibling directors) in such a meeting. As a director does she (do they) have to take any special measures about such a meeting? Can she attend and discuss options for the business? Would it be required to have the Company Secretary (not a shareholder but the step-mother of some participants and mother of two) to attend?
To date, the role of director has been very informal.
Submitted: 1 year ago.
Category: Law
Expert:  UKSolicitorJA replied 1 year ago.
Hello,
As this is proposed to be an informal family meeting, there are no formalities as such and anyone may be present as invited and anything may be discussed to do with the company or any other matters.
So ,no special measures have to be taken for the meeting and the company secretary may attend as well as this is an informal family meeting and not a formal board or shareholders meeting.
Perhaps the shareholders who wish to exit may have their shareholding bought out by the shareholders who wish to continue.
May I help further?
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience: English solicitor with over 12 years experience
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