Legal Question in Business Law in United Kingdom
director shares
can a director with a 2% share threaten to take the directorsip away from a director with 49% shares
Asked on 6/24/07, 4:47 pm
1 Answer from Attorneys
Richard Howard
Richard Howard & CO
Re: director shares
You should look at the Articles of Association of the Company as these will set out when and how directors have to retire or may be removed. If there is a Shareholder's Agreement this may also Contain provisions about how a director can be removed. Otherwise a shareholder majority vote is generally require to remove a director. If a director is also employed by the Company any removal of him from the board does not affect his employment.
Answered on 6/25/07, 3:36 am
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