warnerbottom
Registered User
- Messages
- 19
Hi
I was recently given shares (bought for €5) in the company that I work in as a prelude to a director 'buy in' deal. Prior to this I was a non shareholding technical director.
After seeking advice, I decided not to go ahead with the buy in (because of market changes etc).
Understandably the company now want their shares back. The person selling the shares now has the hump with me for ruining her plans and I anticipate her trying to make it difficult for me to continue working in the firm.
I have three questions:
1. What is the best way to go about transferring the shares back and are there an legal implications for me having being a shareholding director for less than a full year?
2. If I am going to be forced out, should I try to get a severance package agreed before signing over the shares?
3. What would be the position if I refused to sign over the shares until my position is clarified? Could the company just take them back?
Thanks
Warner
I was recently given shares (bought for €5) in the company that I work in as a prelude to a director 'buy in' deal. Prior to this I was a non shareholding technical director.
After seeking advice, I decided not to go ahead with the buy in (because of market changes etc).
Understandably the company now want their shares back. The person selling the shares now has the hump with me for ruining her plans and I anticipate her trying to make it difficult for me to continue working in the firm.
I have three questions:
1. What is the best way to go about transferring the shares back and are there an legal implications for me having being a shareholding director for less than a full year?
2. If I am going to be forced out, should I try to get a severance package agreed before signing over the shares?
3. What would be the position if I refused to sign over the shares until my position is clarified? Could the company just take them back?
Thanks
Warner