Shareholder resolutions: authority to allot shares and disapply pre-emption rights
Shareholder resolutions to grant directors authority to allot new shares and to disapply shareholder pre-emption rights on the allotment of new shares.
Read moreWhen do I use this document?
- to grant general authority to the directors to allot new shares up to a maximum specified amount of share capital
- to disapply statutory pre-emption rights under the Companies Act 2006 for shares allotted pursuant to that general authority
What are the key features?
- shareholder written resolutions – one ordinary resolution and one special resolution
- ordinary resolution to grant general authority to directors to allot shares:
- up to a specified aggregate nominal amount of capital
- for a limited period (maximum permitted 5 years)
- special resolution to disapply statutory pre-emption rights on the issue of new shares in relation to shares issued pursuant to the general authority
What else do I need to know?
For more information about the directors’ authority to allot shares and shareholder pre-emption rights, see, Issue of new shares
When do I use this document?
- to grant general authority to the directors to allot new shares up to a maximum specified amount of share capital
- to disapply statutory pre-emption rights under the Companies Act 2006 for shares allotted pursuant to that general authority
What are the key features?
- shareholder written resolutions – one ordinary resolution and one special resolution
- ordinary resolution to grant general authority to directors to allot shares:
- up to a specified aggregate nominal amount of capital
- for a limited period (maximum permitted 5 years)
- special resolution to disapply statutory pre-emption rights on the issue of new shares in relation to shares issued pursuant to the general authority
What else do I need to know?
For more information about the directors’ authority to allot shares and shareholder pre-emption rights, see, Issue of new shares
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Updated by a lawyer on 21/08/2024
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