Getting rid of preference shareholders

[Zen]

How can we remove preference shareholders in the easiest way? Is there any way to do it?

(No pre-signed share transfer agreement signed)

[Sunbelt Asia]

You would need to file a decrease of capital with the Department of Business Development (DBD). This would normally take about 2-3 weeks. There is normally an additional grace period for debtors and creditors to come forward. This would also mean that the LImited Liability would also be reduced.

When you decrease the shares you can eliminate the preferred shares. Then later, you would increase the registered capital (ie the number of shares) back to the original amount. The entire process could take a few months.

If you need help or advice with the process please feel free to get in touch with us via PM

[sunbeltlegal][/sunbeltlegal]