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Ordinary £1 shares have default rights. You may choose to create your own share class with different values and different rights.
You have the option to use a default class of shares or create your own shares. Choosing the default setting simplifies the company formation.
Many UK companies are formed with standard ‘Ordinary £1’ shares. Selecting this option will allow you to issue Ordinary £1 shares to your shareholders. This is common with companies that have a single shareholder or several shareholders that will hold the same type of shares.
Our default share class are Ordinary £1 shares. They provide equal rights per share with regards to voting, dividends and profit distribution.
Creating your own shares allows you to change the shares to suit your requirements. This is typically done when there are several shareholders that need to own different share classes. You can change the share’s value, currency, name and adjust the rights attached to each share. This allows for greater flexibility amongst the shareholders. When creating your own shares you are responsible for ensuring they are created correctly and issued with the correct rights.
Please note Companies House processing times are an estimate only and not guaranteed.
Simple Formations is a trading name of Small Firms Services Limited. We have been trading since 1998 and are one of the UK's longest standing Company Formation Agents
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