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Selling shares. -
04-08-2008, 03:26 PM
Hi,
I am currently a 10% shareholder in a LTD company, where I was given the shares by the other 2 shareholders over 8 years ago in return for offering the shareholders a rent free arrangement in one of my properties.
I am not a director in the company, but activley work in the company. For the past 3 years my salary has been made up of a wage (basic so I don't pay any tax) and a dividend to make up the rest. The company pays the tax on the dividend so I earn the gross amount.
I am planning on leaving the company, and am enquiring as to what is my position. I presume that as there was no covenant placed on my ownership of the shares that they remain mine after I leave. What about the dividend I earn now? I think that one of the directors will pay himself more so that the company does not display a profit - is there any way I can stop this?
Also, I do not have access to the bank account - as a shareholder should I be able to have this access?
I am planning on selling my shares, but what process will I have to go through to do this?
Any assistance would be appreciated.
Thanks
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