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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I'm Chief Executive of a membership organisation owned by it's

Customer Question


I'm Chief Executive of a member organisation who are the shareholders of the company. We have a subsidiary company we tried to sell due to poor performance but this failed.One of our non-exec board] stepped in and has offered to buy the company. Our board of directors has unanimously accepted the offer. The question it is an incumbent director making the purchase is there any requirement of the board to seek shareholder agreement before allowing the deal to go ahead? Paul XXXX

Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Is this person still registered as a director at Companies House?
Is this person buying the entire issues share capital of the company? What price is he/she paying for the shares?
Kind regards
Customer: replied 2 years ago.

Your online service clearly doesn't work very effectively. I sent my original message on June 16th requesting a same day answer. I didn't receive your response until much later and in fact didn't answer the question just asked questions. I had to deal with the matter urgently and contacted the Institute of Directors who gave me an immediate response. I subsequently emailed your site and said the service failed and I required a refund on the credit card details I placed with you. My credit card statement shows that £38 was taken from my account but no refund has arrived. I'd be grateful if you'd arrange for the £38 to be credit back to my account. Paul Surridge