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Hello for clarification - what is the reason for this decision and who are the directors?
Let me get this correct.
The land is owned by a limited company and the directors who would benefit the most are proposing that the land is split up and divided and given to the share holders and that each shareholder will own a little plot? Is that it?
Your question is to whether there is any reason why this limited company should not continue to own the land for ever, I can’t think of one.
There is clearly a conflict-of-interest here and this is a substantial property transaction.
Get if the directors are going to drive a coach and horses through the requirements of the Companies Act, then the shareholders need to make steps to remove them.
I am not a Community Interest Company expert and therefore I think I would be better opting out of this for someone else to deal. The thread is now open to all experts. Kind regards