← Return to Menu
🏢
What is the company's full legal name?
Must include "Limited" or "Ltd"
📍
Company registration details
Companies House number and registered address
📅
When was the company incorporated?
Date of incorporation at Companies House
📊
How many shares is the company authorized to issue?
Total authorized share capital
💡 Common amounts are 10,000, 100,000, or 1,000,000 shares
💷
What is the nominal value per share?
The face value of each share
💡 This is different from market value. Common values are £0.01, £0.10, or £1.00
📋
Will there be multiple share classes?
Different classes can have different rights
💡 Single class (Ordinary shares) is simplest. Multiple classes allow different voting rights, dividend preferences, or liquidation priorities.
📄
Single Class
(Ordinary only)
👥
What's the minimum number of directors?
Private companies need at least 1 director
💡 Specifying 2 provides governance continuity. Public companies need at least 2.
🔢
Set a maximum number of directors?
Prevents unlimited board growth
💡 No legal maximum required, but setting one can help maintain effective governance
✅
What's the quorum for board meetings?
Minimum directors needed for valid decisions
1️⃣
1 Director
(if only 1)
🔄
Allow alternate directors?
Directors can appoint substitutes in their absence
💡 Common for companies with international directors or those who travel frequently
🔒
What restrictions on share transfers?
Control who can become a shareholder
💡 Most private companies restrict transfers to maintain control over ownership
🔓
No Restrictions
(Freely transferable)
👨⚖️
Board Approval
Required
🛡️
Board Approval +
Pre-emption
⏱️
Pre-emption offer period?
How long existing shareholders have to accept
💡 14-30 days is standard for existing shareholders to decide
👨👩👧👦
Allow unrestricted family transfers?
Transfers to spouse, children, or family trusts
💡 Common for family businesses - no need for board approval or pre-emption for family transfers
✅
Yes, Family
Transfers OK
❌
No, All
Transfers Restricted
⚖️
Include drag-along rights?
Majority can force minority to join in sale
💡 If 75%+ shareholders sell, they can require minorities to sell on same terms
💰
Who can declare dividends?
Authority to distribute profits
🤝
Directors Recommend,
Shareholders Approve
📈
Allow interim dividends?
Directors can pay dividends between AGMs
💡 Standard for active companies - allows dividend flexibility without waiting for AGM
✅
Yes, Allow
Interim Dividends
📅
Require annual general meetings?
AGMs are optional for private companies
💡 Private companies are NOT required to hold AGMs unless Articles require it
🚫
Not Required
(Private company)
📧
Notice period for general meetings?
Minimum advance notice for shareholder meetings
💡 Statutory minimum: 14 days for private companies, 21 for public companies
📅
14 Clear Days
(Private minimum)
✅
Quorum for shareholder meetings?
Minimum shareholders for valid decisions
1️⃣
One Shareholder
(if only one)
📝
Allow written resolutions?
Make decisions without physical meetings
💡 Essential for efficiency - requires signatures from all shareholders entitled to vote
✅
Yes, Written
Resolutions OK
❌
No, Physical
Meetings Only
⚖️
Include weighted voting rights?
Give certain shares more votes per share
💡 E.g., founders get 10 votes per share. Used to maintain control after fundraising.
➡️
No, One Share
= One Vote
🛡️
Include reserved matters?
Decisions requiring enhanced majorities
💡 Common in investment agreements to protect minority investors (e.g., 75% or 90% vote required)
📋
Standard
Reserved Matters
✏️
Custom
Reserved Matters
🤝
Include tag-along rights?
Minority can join when majority sells
💡 If majority shareholders sell, minorities can join the sale on same terms
📝
Any additional provisions?
Custom clauses or special requirements