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VIC Can Company Directors Issue New Shares Without Members Meeting?

Discussion in 'Commercial Law Forum' started by GregsMoney, 23 September 2016.

  1. GregsMoney

    GregsMoney Member

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    I am one of three company directors of a Pty Ltd company. We wish to issue new shares to new members and want to know if we can do this without calling a members meeting. The directors all own shares. One of the members of is deceased and the shares are in escrow and the other shares are issued to his family trust now managed by the deceased member's wife who has no interest in the company.

    We wish to bring in new capital which will dilute all members equally.
     
  2. Rod

    Rod Well-Known Member

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    No

    Doesn't impact first answer.

    Also check your member's share agreement in case there are special provisions relating to issue rights..
     
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  3. Matthew Karakoulakis

    LawTap Verified Lawyer

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    Hi Greg,

    I agree with Rod. If you would like specific legal advice regarding how to proceed, please feel free to contact me via Matthew Karakoulakis, Lawyer, AMK Law - Melbourne, VIC - LawTap - Find a Lawyer & Book Online Instantly.

    Yours faithfully,
     
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