You are the director of a private PTY LTD company with one other director. You both hold one equal share.
If you resign as a director but remain a shareholder what say do you have in how the company's profits are distributed and the level of director fees?
Does the sole director have to put it to you as the other shareholder to vote on these issues or can they just railroad you in submission? I ask because shareholders of publicly listed companies don't seem to have much say on how much of the profits are disbursed as dividends though they do vote on director salaries.
If you resign as a director but remain a shareholder what say do you have in how the company's profits are distributed and the level of director fees?
Does the sole director have to put it to you as the other shareholder to vote on these issues or can they just railroad you in submission? I ask because shareholders of publicly listed companies don't seem to have much say on how much of the profits are disbursed as dividends though they do vote on director salaries.