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UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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i had 4% shares in a business and was dismissed and have not

Customer Question

i had 4% shares in a business and was dismissed and have not been paid anything for the shares, what minority shareholding rights do I have to get fair value for the shareholding and is there a time limit for raising proceedings?
Submitted: 4 years ago.
Category: Law
Expert:  UKSolicitorJA replied 4 years ago.

You have the right not to be oppressed as a minority and be treated fairly along with other shareholders.

You should see if the Company's Articles of Association contain any provisions relating to pre emption rights and selling your shares, you do not have an automatic right for the other shareholders to buy you out. You may also wish to see if there is any valuation mechanism to value your shares..

There is no time limit as prescribed by law but you should check whether the Articles or shareholders agreement state otherwise.

Hope this helps