There are 3 shareholders in the company of which all 3 are directors. We each own 1/3rd of the company equally.
I have a full time job in another company, therefore I don't take a wage (trying to grow the company by keeping money in the business)
The other 2 directors work as sole employees
Director/shareholder 1, (operations) works 5 days/week for £2500/month
Director/shareholder 2, (accounts) works 3 days/week for £1500/month
Director/shareholder 3, (myself, technical) no wage
We also have 1 person working for us as sales, but on commission only (not employed)
Just taken on 1 new member of staff this week full time.
Occasionally we employ some temp staff for packing.
Out of the 5 people now working in the company including myself, it now appears 4 of the 5 all worked for the same company in the past all within the last 18 months. I now feel the non-contributing outsider being excluded more & more such as emails and meetings.
I was offered to be bought out of my share for £20k (pre-tax), I think this is below the true value of my 1/3rd share.
I feel if I don't take it, over time I will be pushed further out and become more excluded and if I push the value there is a possibility they could just setup another company, move the assets and let the current company fade away to zero value.
I have to admit, I don't know of "Articles of Association" is it something we must have or is it something that's just a good idea to have, the same goes for " shareholders agreement"? I am only asking because when the company was originally set-up, it was just done 1 evening over a drink.
The only monies paid between all 3 of us is a dividend’s which have been set-aside
As a director and shareholder do I have the rights to see all communications being passed about the company like emails, bank meetings that I am being excluded from.
This all started when I found to be excluded from contracting a new website company. From which I have been excluded from all communications, meetings and first views.
The other thing I found strange last night, was I asked for a phone bill that was going to my house instead of the company to be changed, this has now been changed, but notice the change document has had my signature forged by our accounts director, as I never seen or signed the form.
Thank you for your help so far with this matter, you have been a great relief & help,
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