Articles of association, shareholders’ agreement and cross-option agreement

We prepared articles of association for an owner managed business selling solar lights enabling the director/shareholders to declare differential dividends by the use of an alphabet share scheme.

The cross option agreement was tied to cross option life insurance policies arranged by the client’s accountant providing the surviving shareholders with the option to buy the shares from a deceased shareholder with such purchase being funded by the life policies. The articles of association contained drag and tag provisions, leaver provisions including different valuation mechanisms for good and bad leavers as well as early leavers.