
Shareholder written resolution disapplying pre-emption rights
Use this template to generate a shareholder written resolution to disapply pre-emption rights in relation to a proposed issue of shares to some (but not all) of your company's existing shareholders or to a new shareholder.
Pre-emption rights means that where you are issuing new ordinary shares for cash, you are required (unless these rights are disapplied) to offer these new shares to all existing ordinary shareholders on identical or more favourable terms and in proportion to the shareholders' existing shareholdings.
This template shareholder resolution allows your company's shareholders to temporarily disapply pre-emption rights, meaning that the new shares do not have to be offered to existing shareholders first.
Prior to passing this shareholders' special resolution, your company's directors should pass a board resolution to approve the wording of the special resolution.
By using this template, you minimise the risk of disputes with your company's shareholders and ensure you comply with relevant company law.
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