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Buachaill
Buachaill, Barrister
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Experience:  Barrister 17 years experience
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our ltd company has 3 shareholders one with 50% and two with

Resolved Question:

our ltd company has 3 shareholders one with 50% and two with 25% and all three are directors and there is no chairman or managing director, is it possible to remove the directorship of the 50% shareholding director if the other two out vote him two to one in a meeting albeit he would still have his shareholding and would have to be paid his legal dues to redundancy and notice etc.
Submitted: 1 year ago.
Category: UK Law
Expert:  Buachaill replied 1 year ago.

Buachaill :

1. I regret to say that it is not possible for the two 25% shareholders to outvote the 50% shareholder two to one because all the 50% shareholder has to do is to call a general meeting or emergency meeting and have the votes put to the shareholders. In each situation he will be able to vote his full 50% of the shares, so there will be no possible situation where the two 25% shareholders will be able to outvote him. Essentially, there needs to be agreement between one of the 25% shareholders with the 50% shareholding in order that business get done and the company function properly. But any idea that the two 25% shareholders can get rid of the 50% shareholder and pay him redundancy is fantasy!

Buachaill :

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Buachaill, Barrister
Category: UK Law
Satisfied Customers: 8495
Experience: Barrister 17 years experience
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