The “behind the scenes” documentation required to form, regulate and manage a company, its board of directors and its member can often be underestimated.
We can assist with company formation matters, from the procedural aspects of creating a new company at Companies House to drafting bespoke Articles of Association, to regulate how the company is run going forward. We can also advise in relation to Shareholders’ Agreements, to regulate the relationship between the shareholders. Having a Shareholders’ Agreement can save a lot of time, worry and expense in the future, by providing for how certain matters or disputes will be dealt with. They will often state what matters require unanimous agreement, which decisions can be delegated and how a leaving shareholder must deal with their shares. This may be accompanied by Cross Option Agreements allowing continuing shareholders to acquire another person’s shares in a company upon their death, linked with life assurances. This is a prudent way of planning for the future of the company.
We can also assist with regular corporate performance issues, such as submitting Annual Returns and the filing of other forms at Companies House, as well as the more unusual and complicated matters, including share reorganisations, purchase of own shares, directors’ and senior managers’ service contracts, confidentiality agreements and transfer of assets between holding companies and subsidiaries. Such matters if not documented correctly, will be potentially invalid transactions. Transactions which are not properly documented at this stage could have far-reaching and potentially costly consequences, particularly if the company is sold in the future (for example, on retirement).
Please contact the Commercial Team for more information