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Hi thank you for your question and welcome my name is ***** ***** I will assist you. Are the directors also company shareholders? Does the company have model articles of association? Kind regards AJ
Hi thank you. I will review this now and revert to you this morning. Kind regards AJ
My apologies for the delay. The directors cannot close the company down and dissolve it, you will require a special resolution to do this. This means 75% or more of the voting shares have to vote in favour of the company being either dissolved or liquidated. Is the company currently solvent? Does it have more assets than liabilities?
Hi, Thank you. I will report this conversation to the administrators once we are finished and ensure it is removed from public view. The Articles of Association you have provided are a matter of public record anyway and anyone can download them from Companies House - however to ensure privacy I will avoid using the company name. If the company is solvent you have two options you can either (i) Dissolve or (ii) liquidate the company. Is the company currently trading day to day? Does it have any employees?
Hi, Thank you. The articles can only be changed by special resolution - how is the shareholding split? https://www.gov.uk/get-information-about-a-company - you can download all company information here.
Hi, Thank you. You cannot have Treasury/unallocated shares in a private limited company. Essentially the shares of the company are only represented by the issued shares (you cannot have shares that are issued but not owned by anyone), so in reality the shareholders have 33.3% each. You would therefore need all three shareholders to vote in favour of the company going into liquidation.
No problem. I would be most grateful if you would rate my answer. If I can assist any further please do not hesitate to contact me. Kind regards AJ