Assynt Corporate Finance, a member of The Corporate Finance Network in Hertfordshire, has advised the majority shareholder on their purchase of shares from a minority shareholder.
Andrew Watkin, a business adviser at Assynt Corporate Finance was asked by his client for assistance about reorganizing the shareholder structure within their company.
The owners of the business decided they should part company and after discussion, it was decided the company should purchase the shares from the minority shareholder.
Andrew conducted the negotiations, prepared the Heads of Agreement, and drafted and submitted the appropriate advance clearance application to HMRC. He obtained the clearances without any changes to the previously agreed terms.
The solicitors prepared the various statutory papers and arranged for these to be signed by the owner and the departing person.
The purchase of own shares has enabled the remaining shareholder and sole director to continue running the company and for the leaving shareholder to consider other ventures. Both parties gained from this transaction advised by Assynt Corporate Finance.
