Investor Representative...legal duties?

[Ultraviolet]

Hello

Quick question for the legal bods: whenever I've worked with investor representatives before, they've always sort written consent before, for example, allowing the company to issue shares without applying pre-emption rights (such as when acquiring another business).

However, whilst this might be started in the articles / shareholder agreement, is this the default legal position where nothing is explicitly stated (which is my understanding)? In other words, must the investor representative always seek written consent from shareholders when permitting the issuance of shares and, if not all shareholders consent, can he act for the majority?

Thanks for the clarification,
UV

[anonymous-user]

I imagine it'll be dependent on the articles/any shareholder agreements/debentures.

If in doubt take insured legal advice.

[akirk]

janesmith1950 said:

I imagine it'll be dependent on the articles/any shareholder agreements/debentures.

If in doubt take insured legal advice.

this

it is possible for a minority shareholder to block such changes
not getting permission in writing is a shortcut to later hassle