Dear Jonathan
I am trying to work out how to cancel/reduce shares after creating a new share split (meaning taking a company from 10,000 shares to 1 million with a 0.1p issue). After the share split one of the directors will have a 5,000 shares when the owner of the company would rather he have only have 3.500. I am not sure how you reduce or cancel the excess shares which will vest in him? Should the company buy these from him or should he gift them to the company? Is there a simple way to handle this?
Many, many thanks for any steer you can provide.
Sheri