Issuing shares in a UK company for a foreign currency

Home Forums Business Law Issuing shares in a UK company for a foreign currency

This topic contains 1 reply, has 2 voices, and was last updated by  Jonathan Lea 3 years, 3 months ago.

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  • #2370

    davidbaker
    Participant

    We would like to raise an equity from an investor from Russia. Is it allowed that we issue additional 100000 shares of nominal value of 1 GBP each and investor pays an amount in Russian Rubles to our Rubles bank account or we have to issue shares nominated in Rubles? WHAT FX rate I have to use to translate Rubles amount into total value of additional shares nominated in GBP?

    #2371

    Jonathan Lea
    Keymaster

    Yes, the investor can pay the premium/subscription monies in whatever currency detailed in the subscription agreement for shares in a UK company (of nominal value £1.00). You can insert the Russian Rubles amount in the SH01 statement of capital form filed at Companies House or convert the amount to UK Sterling and insert this figure. Its up to you, including what exchange rate you agree. For ease and clarity I recommend you keep all figures in £ Sterling.

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