Redenomination of Shares
Section 542 of the Companies Act 2006 expressly provides that shares in a limited company may be denominated in any currency and different classes of shares may be denominated in different currencies. The Companies Act also provides that shares may be redenominated from one currency into another by ordinary resolution unless the articles restrict
This subfolder contains a guidance note and several supporting documents for companies wishing to undertake such a conversion.
The supporting documents include board minutes, shareholder resolutions, Companies House forms, letters to Companies House and a directors’ confirmation. Two board minutes are included; one for the directors to resolve to approve the redenomination and a second should the company wish to pass a special resolution following the redenomination to reduce its share capital for the purpose of rounding the redenominated nominal values to values which are more suitable.
We have not considered any potential tax or accounting implications that may be relevant. Independent legal advice should be considered when undertaking any currency conversion.
The templates in this sub-folder are suitable for private limited companies.
Each document in the Share Redenomination subfolder is compliant with the Companies Act 2006.
- Guidance Note – Share Redenomination
- Board Minutes to Redenominate Shares (s.622)
- Written Resolution – Redenomination of Share Capital (s.622)
- General Meeting Minutes – Redenomination of Share Capital (s.622)
- Letter to Companies House – Redenomination of Share Capital
- CHF – SH14 Notice of Redenomination
- Board Minutes to Reduce Share Capital following a Redenomination of Shares (s.626)
- Written Resolution – Reduction of Share Capital (s.626)
- General Meeting Minutes – Reduction of Share Capital (s.626)
- Directors’ Confirmation following Reduction of Share Capital (s.627(6))
- Letter to Companies House – Reduction of Share Capital (s.626)
- CHF – SH15 Notice of Reduction of Capital following Redenomination
The documents in the Share Redenomination subfolder are part of the Corporate folder. Access all Corporate documents for £35+VAT.