Notice of Withdrawal from a Company

This document is a Notice of Withdrawal from a company, which is to be used by a shareholder to inform the company of his/her voluntary withdrawal from being a shareholder in the company.

This document should be used where the Company will continue to operate even after the WIthdrawing Shareholder stops being a member of the company.

This template can be used where the company is in the jurisdiction of England and Wales, Scotland, and Northern Ireland.

How to use this document

The Shareholders Agreement governing the rights and obligations of members of the company will sometimes have information about how a shareholder can withdraw from membership in the Company. The Shareholders Agreement will also have information about the transfer or assignment of shares from the Withdrawing Shareholder to a third party who will be buying the shares, or the company if the shares will be bought back. It will be helpful to have a copy of the Shareholders Agreement on hand while completing this document to ensure that the withdrawal is in line with the conditions contained in the Shareholders Agreement.

This document includes all the necessary information needed for either a voluntary withdrawal including the following:

• The name and address of the Withdrawing Shareholder
• Information about the shareholding of the Withdrawing Shareholder
• Information as to the reason for the withdrawal, such as death, incapacity, or bankruptcy.
• Information on whether the Withdrawing Shareholder's shares will be bought back by the company or whether they are being sold to a named third party.

The Withdrawing Shareholder should fill out this notice and send physical or electronic copies of the completed notice to the company's registered address or to the emails of the remaining shareholders of the Company. The completed notice should be kept on record by the company.

Applicable Law

Companies Act 2006

Help from a lawyer

You can choose to consult a lawyer if you need help.

The lawyer can answer your questions or help you through the process. You will be offered this option when you complete the document.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.