Key terms of the articles of association
By Daniel Rooke
The articles of association are a contract between the company and each shareholder and between the shareholders themselves. Every shareholder subscribes for shares in accordance with the rights and restrictions set out in the articles of association and therefore the articles will contain detailed provisions about, among other things, how shares are to be dealt with, what rights attach to the shares and how the directors may call and hold meetings.
It is common in life sciences investments for the founders and other (non-investor) shareholders to hold ordinary shares and for the investors to hold preferred shares that have preferential rights over the shares held by the founders and other shareholders. We have set out below typical preferential rights that the shares held by investors may have.
As life sciences companies usually always have more than one class of shares, separate class consents may be required if the rights of a class of share are being varied or abrogated…
Click on the link below to read the rest of the Taylor Wessing briefing.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
For the tax year from 6 April 2014, the standard lifetime allowance has reduced from £1.5m to £1.25m.
One of the areas highlighted last year by the Regulator was the regulation of workplace DC pension schemes.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world