The majority of businesses in this day and age have more than one investor or shareholder as part of the directing body. It is really significant if this is the case in your business that you have a solid set of guidelines outlined from the start as to how certain situations will be managed should they arise.
As an example, should one of the parties decide to rescind their shares, how they would be shared between others; what the process would be if one of the investing bodies was to pass away; how decision making votes would be divided between the parties, and so on.
Within our team at Bailey & Cogger, we have dedicated specialists in corporate and commercial law that will work with you to create a shareholders agreement specifically relevant to your individual business needs. This could cover:
- the voting rights each investor will have
- the votes required for certain decisions to be made;
- those decisions for which unanimous approval will be required;
- a right of first refusal for existing shareholders where an investor wants to sell their shares;
- restrictions on the sale or transfer of shares to third parties;
- the right of existing shareholders to buy the shares of an incapacitated or deceased shareholder for a pre-agreed sum;
- how a shareholder’s interests in the business will be dealt with if their shares need to be sold;
- the rights of shareholders if the business is restructured;
- safeguards to protect the interests of minority shareholders;
- a mechanism to prevent minority shareholders thwarting a business sale or other corporate transaction;
- a mechanism for forcing a disinterested shareholder to leave the business; and
- a procedure for resolving disputes within the business
Advising businesses throughout Kent and beyond
We have offices in Tonbridge, Maidstone, Gravesend, Chatham and Tenterden.
We can also offer meetings at your place of business or via a skype conference call where needed.
How much does it cost?
We offer an initial appointment to discuss your requirements at a fixed cost of £180 inclusive of VAT. After that we can arrange flexible payment terms, including monthly billing to help you budget.
Get in touch
Call us on 01732 353305 if you need our help. Alternatively, please complete our Contact Us form and we will be in touch as soon as possible.