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how do I resign as director
16-08-2007, 10:27 PM
#1
Hi,
Can anyone give me some guidelines as to the procedures etc on how to resign as a director of a private limited company. I have a 50/50 share in a small business and after 5 years trading I now find my share of the workload has increased far more than my other director who refuses to 'pull his weight' in the business.. I now wish to branch out on my own as he is holding me back and I desparatelly wish to 'quit' but want to come out of the venture financially stable to carry on trading by myself.. Any help would be very much appriciated... 
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Re: how do I resign as director
19-08-2007, 10:45 PM
#2
You need to take independent legal advice which would take into account the directors' and shareholding agreements in place as well as assisting you with a valuation of your share. Once this has been evaluated then an agreement is drawn up which also deals with the timings of payments due to you and the various Company House requirements. Happy to advise further if you email me via my profile.
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