NOTE FOR ADVANCED PACKAGE COMPANY FORMATION FROM FORMATIONS DIRECT

Advanced package company formations using the "ADVANCED" format articles have been drafted on the following bases and can be amended to suit your requirements, including a range of bolt-on articles which are listed at the foot of this page.

Advanced package company formation option is a traditional hard copy package as well as e-copies.

This precedent comprises specimen long form articles of association for a private company limited by shares. It is based on the Model Articles for a private company limited by shares (Schedule 1 to the Companies (Model Articles) Regulations 2008) (Schedule 1 Model Articles) and incorporates various additional provisions supplementing and modifying the Schedule 1 Model Articles of Association

• The Company has unrestricted objects in its articles.
• There is no share qualification for directors.
• The Company will not hold annual general meetings.
• The directors are granted absolute rights to refuse to register a transfer of shares.
• Pre-emption rights apply both on the issue and the transfer of shares.
• There are no weighted voting rights attached to particular shares nor for directors in proceedings at board meetings.
• There are no provisions of these articles which are entrenched and as such require particular voting thresholds to be met before they can be amended.
• Compulsory transfer of shares
• Ex-employee / ex-director and transfer of shares upon leaving
• Drag along / tag along

BOLT – ON OPTIONS

1. No pre-emption rights on allotment
   
   OR
   
   
2. Allotments on a pre-emptive basis for multiple classes of share
   Transfer on a pre-emptive basis for multiple classes of share

Keywords: company formation, articles, articles of association, articles, model articles, private company limited by shares