Our Reduction of Share Capital Service is suitable for public and private companies incorporated in the United Kingdom.
What does our package include?
| 1 |
A review of the company's Articles of Association and any Shareholders Agreement in relation to the planned reduction. |
| 2 |
Advice on your proposed course of action. |
| 3 |
A Solvency Statement or court application (as applicable). |
| 4 |
A Directors' statement of compliance (if required). |
| 5 |
Directors and shareholders' resolutions as required. |
| 6 |
Filings at Companies House. |
| 7 |
Update company registers, new share certificates as required. |
MAKE ENQUIRY
Private companies limited by shares can reduce their share capital by special resolution:
- supported by a directors' Solvency Statement; or
- confirmed by the court.
Public companies can only reduce their share capital by special resolution confirmed by the court.
The reduction itself can be effected in any way. For example, a company may:
- cancel paid-up share capital that is lost or unrepresented by available assets;
- release the shareholders' liability to pay-up share capital; or
- repay paid-up share capital in excess of the company's needs.