Leaving a company as a director and shareholder advice

[Maverick007]

I'm currently one of 2 equal directors in a business and have a 40% share in the business also (other director has 40% and another shareholder has 20%), and have accepted a position with a company in a senior (ish) position.

Just wondering what happens with regards to the directorship and my shares? I signed a directors guarantee for some equipment that we lease so need to get out of that but don't know how that works? If I'm removed from companies house as a director am I still liable for the equipment if the company goes bump?

How does it work with the shares? The company isn't worth a great deal. Turns over £250k per annum and has been going for 3 years. I know it has to be valued (who pays for that?) and what happens then if the other shareholders can't afford or don't want to buy my shares from me?

Hope that makes sense. Thanks in advance

[Maverick007]

thanks for all the advice. Yes I am classed as an employee too - I think!

we do have a shareholders agreement, I need to dig that out and check it out.


will have to look at the guarantee too.

it's highlighted I need to take more care over these legal matters!