Desimomo07
Registered User
- Messages
- 13
Do you think a solicitor would be first port of call?Why an accountant I guess would be my first question?
Your issues sound commercial in the first instance and legal in the second.
Shareholders fund is a few million. I have a bit less than 40%. I dont really want to say too much online...Is the business worth anything? How minor is your stake? Do you also work at the business or did you just invest in it?
A solicitor is where I’d start, to review the shareholders agreement to see what your rights/options are.
Thank you for that Brendan....I appreciate your input.I would agree with you that you should start with an accountant.
They will look at the accounts and give you an indication if there is any value in it and how you might approach exiting from it.
When you have that information and you decide what you want to do, you can talk to a solicitor.
If you have a partnership agreement, then it should be easy enough for you to understand without paying a solicitor to read it for you.
If you are a shareholder and employee of the company, you can leave your employment, and depending on what, you have agreed, retain your shareholding.
But an accountant would advise you on what the best business approach is.
Being a minority shareholder is not usually a good idea, so if you can reach an amicable agreement for them to buy you out, that would usually be the best outcome.
Brendan
In that case, I’d suggest an accountancy firm with a corporate finance wing. And perhaps a lawyer as well.Shareholders fund is a few million. I have a bit less than 40%. I dont really want to say too much online...
In my (limited) experience that's very good advice. Unless you are a big fish the big four will fob you off with a junior but still charge you an arm or a leg.Agree with Gordon - if your stake is worth around €1m you need specialist skills which your normal local practice wouldn't usually have.
I would go with the Top 10 but outside the Big 4 - Grant Thornton, Mazars or BDO.
They would advise you on how to maximise your value and they would give you appropriate tax advice.
Brendan
Your headline question does not match your opening post.
I'm fairly confident this wont go down well with the other members...
Correct. And the existing shareholders would have to give consent to any new shareholder coming on board.Selling a minority interest in a privately owned company won't be easy, as few strangers will want to buy in as a minority shareholder.
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