The Companies Act 2006 introduced few changes to allotment of shares. From 1st October 2009 directors of private limited companies with only one class of share no longer need shareholder authority to allot new shares of that class. This new power is subject to any prohibition in the articles.
However, in private limited companies with more than one class of shares, or where private companies wish to allot shares of a new class, the directors are still required authorisation for allotting shares either by the articles or by an ordinary resolution of the members.
The Ordinary Resolution – Companies with more than One Class of Shares template should be used by private limited companies with more than one class of shares where they want to allot new shares of that class or where they want to allot shares of a new class.
Please note - a copy of the Ordinary Resolution must be sent to Companies House within 15 days of it being passed.
This Ordinary Resolution - Issue New Class of Shares is in Microsoft Word format, written in plain English, easy to use and edit.
Need Help Creating Your Template?
Let us check that your template has been edited correctly.
Need help with your template? Do you have questions on a template? Please get in touch!
You can use the phone number or contact form below to get in touch with us.
+44 (0) 208 870 5522
Can’t Find Your Template? Request It Now!
If we currently don’t have the template you need we can always draft it for you at no extra cost & 100% money back guaranteed, simply send us a no obligation request by filling in the form below.
We aim for a 7 day turnaround - you will receive an email notification when your template is ready for download from our website.