All Templates
Initiate compulsory acquisition
📑 Board minutes
Section 979 or Section 983 Takeover Thresholds Met (Board Minutes)
Section 979 or Section 983 Takeover Thresholds Met (Board Minutes)
Publisher one
Genie AIJurisdiction
England and WalesRelevant sectors
Type of legal document
📑 Board minutesBusiness activity
Initiate compulsory acquisitionA board minutes is a document that covers the minutes of a board meeting. It includes the date, time, and location of the meeting, as well as the names of the board members present. The minutes also include a summary of the topics discussed and any decisions made.
This legal template likely pertains to a board meeting or minutes related to the fulfilment of takeover thresholds outlined in Section 979 or Section 983 under UK law. In corporate law, a takeover usually refers to an acquisition or transfer of control of one company by another. Section 979 and Section 983 likely outline specific conditions or thresholds that need to be met for a takeover to be legally recognized under UK law.
The template may provide a standardized format for recording and documenting a board's decision or findings during a meeting where the takeover thresholds mentioned in the aforementioned sections have been met. It is possible that this template includes sections for recording the date, time, and place of the meeting, as well as the names of the directors or board members present.
The template might also offer specific sections to detail the specific takeover thresholds that have been met, with references to the corresponding sections of UK law. It may require providing evidence or documentation substantiating how these thresholds have been reached, such as disclosing the percentage of shares acquired or outlining any significant changes in ownership or control.
Additionally, this legal template might include provisions to document the board's resolutions or decisions regarding the takeover. It could specify whether the board approved, objected, or sought additional information or guidance on the proposed transaction.
Ultimately, this legal template serves as a tool to compile the necessary information and decisions made by the board during a meeting where takeover thresholds, as mandated by UK law in Section 979 or Section 983, have been met. This documentation can serve as legal evidence and may be necessary for ensuring compliance, transparency, and good governance in the context of corporate takeovers.
The template may provide a standardized format for recording and documenting a board's decision or findings during a meeting where the takeover thresholds mentioned in the aforementioned sections have been met. It is possible that this template includes sections for recording the date, time, and place of the meeting, as well as the names of the directors or board members present.
The template might also offer specific sections to detail the specific takeover thresholds that have been met, with references to the corresponding sections of UK law. It may require providing evidence or documentation substantiating how these thresholds have been reached, such as disclosing the percentage of shares acquired or outlining any significant changes in ownership or control.
Additionally, this legal template might include provisions to document the board's resolutions or decisions regarding the takeover. It could specify whether the board approved, objected, or sought additional information or guidance on the proposed transaction.
Ultimately, this legal template serves as a tool to compile the necessary information and decisions made by the board during a meeting where takeover thresholds, as mandated by UK law in Section 979 or Section 983, have been met. This documentation can serve as legal evidence and may be necessary for ensuring compliance, transparency, and good governance in the context of corporate takeovers.
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Target Company Section 979 Threshold Compulsory Acquisition (Board Minutes)
This legal template pertains to the "Target Company Section 979 Threshold Compulsory Acquisition (Board Minutes)" in the context of UK law. The template likely includes a predefined set of minutes for recording the decision-making process and actions taken by the board of directors of a target company in response to a compulsory acquisition scenario.
Under UK law, Section 979 of the Companies Act 2006 provides a framework for acquiring the shares of minority shareholders by majority shareholders, subject to certain thresholds and conditions. When the ownership threshold stipulated in Section 979 is reached or exceeded, the majority shareholders have the power to compulsorily acquire the shares held by the minority shareholders.
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By utilizing this legal template, the target company will ensure that its board of directors adheres to legal requirements and properly documents crucial actions related to the compulsory acquisition, guaranteeing transparency and fulfilling their fiduciary duties towards all shareholders involved.
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