Articles of Association: established business multiple investors

Articles of Association to be adopted at closing of an investment in an established business by multiple investors.  Intended to accompany the Shareholders Agreement, these Articles balance the rights of the investors with the rights of the founders.

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When do I use this document?

What are the key features?

  • form of new Articles of Association for the company
  • amendments and additions to the Companies Act 2006 Model Articles
  • investor rights exercisable by investors holding a majority of the investors’ shares
  • pre-emption rights on the allotment of new shares, with exceptions for employee share option grants
  • regulations governing the transfer of shares, including:
    • permitted transfers to defined classes of permitted transferees
    • pre-emption rights on the transfer of shares to third parties
    • compulsory transfer provisions for founders and employee shareholders
    • tag-along and drag-along rights, including investor protection against being required to sell their shares
  • regulation of shareholder meetings, including investor presence required for quorum
  • investor and other shareholder rights to appoint a director and investor director to be present for a quorate board meeting

What other documents are available?

For Articles of Association for an investment in a start-up business by multiple investors, see

For Articles of Association for investment by a single investor, see

When do I use this document?

  • secured loan agreement for a secured loan of a fixed amount to be drawn in a single advance
  • for a borrower which is a company incorporated in England and Wales
  • for a loan repayable on a single repayment date or in instalments

What are the key features?

  • easy to edit, with 21 clauses over 13 pages
  • single advance of specified loan amount
  • regular interest payments at either fixed or floating interest rate by reference to specified bank’s base rate of interest
  • repayment either on a single repayment date or in instalments
  • undertakings from the borrower, including to provide information to the lender and prohibition on granting security and additional borrowings
  • events of default, including a failure by the borrower to repay the loan or interest, leading to the lender having the right to demand immediate repayment

What else do I need to know?

The security would need to be created and governed by a separate security document between the borrower and the lender, depending on the nature of the secured property or assets.  Examples of security documents include:

  • a charge over property
  • a charge over shares
  • a debenture, containing fixed and floating charges over all of the borrower’s assets and undertaking

What other documents are available?

For a form of unsecured loan document, see

For forms of unsecured and secured facility agreements, for advances of loans in several lump sums, see

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Updated by a lawyer on 30/06/2025

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