For a private ltd company, if the director of the company (( who own 100% at the moment)) wishes to sell to sell 5% of his shares to an employee of the same company - what formalaties need to be followed ?
Do any of the existing articles of the company have to be ammended ?
If this process has to be repeated for other employees in future, are there any upper percentages to be mindful of so that the directors do not run into any blocking situations during shareholder votes ( i.e as long as directors have more than X percentage ... )
Thank you for any guidance
CAclubindia
