Friends of Geers Wood Ltd
Shareholdings and Disposal of Shares
The procedure depends on whether you are disposing of the shares to an existing shareholder or to a non-shareholder.
1.Transferring to an existing shareholder then you will need to complete a Stock Transfer Form and hand that, together with the share certificate(s) to the recipient. That person will need to send the documents to the Company Secretary-details below- who will register the disposal and issue a new share certificate.
2. Transferring to a non-shareholder requires the current shareholder to give written notice to the directors of Friends of Geers Wood Ltd, informing of your intention to dispose of the shares. This notice to be given via the Company Secretary at the address below. The directors may dispose of the shares to an existing shareholder or shareholders at a price to be agreed between you and the directors, or determined in accordance with the company’s Articles of Association (clause 9). If within 28 days of the notice the directors are unable to find any shareholders will to purchase all or some of the shares, you may dispose of them as you think fit within 3 months from the date of the notice.
If you are selling your house and disposing of the shares, these procedures should be drawn to the attention of your solicitor who should deal with the necessary forms or notices.
The Company Secretary is;
All shares are owned by individuals named on the share certificate. They are not in any way linked to the property to which a shareholder owns. Therefore it is only the individual or individuals named on the share certificate, who can dispose (transfer sell) of their shares.
The procedure for the disposal of shares applies whether you are selling or transferring shares without payment. In both cases a Stock Transfer Form needs to be completed. Stock Transfer Forms can be acquired from solicitors or downloaded from the Internet.